
Glass. 
Book. 



COPYRIGHT DEPOSIT 




CAMPAIGN TEXT BOOK 

V COL.D.M.FOX,^ 

GEN. J AMES B.WEAVER.HON.HORACE BOIES, 
HON. JOHN W.DANIEL, GEN.A J.WARNER, 
HON. R.F.PETTIGREW, REV. H.W.THOMAS, 



J.E.NUGENT,LLD., 

CHICAGO —-NEW YORK 
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HON. WHARTON BARKER, 
AND OTHERS. 




1 Washington 1789-1797 

2 John Adams 1797-1801 

3 Thomas Jefferson 1801-1809 

4 James Madison 1809-1817 

5 James Monroe 1817-1824 

6 John Quincy Adams 1824-1828 



7 Andrew Jackson 1828-1836 

8 Martin Van Buren 1836-1840 

9 Wm. H. Harrison 1840-1841 

10 John Tyler 1841-1844 

11 James K. Polk 1844-1848 

12 Z achary Taylor 1848-1849 




13 
14 


Millard Fillmore.. 
Franklin Pierce 


..1849-1852 
...1852-1856 


20 
21 
22 
23 
24 
25 


Jas. A. Garfield 

Chester A. Arthur . . . 
Grover Cleveland. . . 
Benjamin Harrison . . 
Grover Cleveland . . 


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. . 1884-] 
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. . . 1856-1860 


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Abraham Lincoln... 
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R. B. Hayes 


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19 







The Silver Side, 
1900 campaign text-book 

A Symposium Constituting a Bimetallic 
Educational Treatise, 

With a Review of the 1896 Campaign. 



Contributions from Many of the Ablest Writers 
on Bimetallism 



Cabinet Sized Engraved Portraits of Prominent Workers. 

\< 

- 

By COL. DORUS M: FOX, 

Author of "Political Parties," "National Reminiscences," Etc. 



Including Special Articles by Gen. James B. Weaver, Hon. Horace Boies, Hon. John W. Daniel, 

Gen. A. J. Warner, Hon. R. F. Pettigrew, J. B. Smiley, Rev. H. W. Thomas, 

Joseph F. Nugent, L. L. D., Hon. Wharton Barker, and others. 

Chicago— New York 

W. B. CONKEY COMPANY 
1897 






Entered according to act of Congress, 
In the year one thousand eight hundred and ninety-seven, 

By Col. Dorus M. Fox, 
In the office of the Librarian of Congress, at Washington. 



DEDICA TION. 

To the 

Six Millions, Five Hundred and Eight Thousand, Six 
Hundred and Eighty -one American Citizens, Who, Disre- 
garding Former Party Affiliations, in the Presidential 
Campaign of 1896, Voted for the Free Coinage and Use 
of Silver on Equal Terms with Gold, and Especially to 
the Hon. William J. Bryan, the Chosen Leader of the 
Bimetallic Forces, Making the Most Remarkable Can- 
vass in the Country's History, U THE SIL VER SIDE, 
ipoo CAMPAIGN TEXT-BOOK" is Respectfully 
Dedicated. 

THE A UTHOR. 

Des Moines, Iowa, Feb. 22 
{Noted Day in Ameri- 
can History^), i$oj. 



List of Illustrations. 



Page. 
Frontispieces. 

Author 16 

Dr. Thomas 28 

Senator Pettigrevv 42 

Gen. J. B. Weaver 54 

Gov. Horace Boies 58 

Lincoln 64 

McKinley 72 

Hon. E. M. Carr 78 

Wharton Barker 84 

John W. Daniel 102 

Labor and Capital 110 

Grant 118 

Hon. Charles A. Towne 134 

Leonard Brown 168 

Gen. A. J. Warner 174 

Marion Butler 178 

Henry Riegelman 182 

Judge W. A. Spurrier 200 

Miss Minnie Murray 230 

Author's Residence 234 

George Washington 242 

Saving the Flag 264 

James K. Jones 270 

Gen. W. H. Harrison 278 

Capt. Muffly 290 

Judge C. C. Cole 298 

Rev. J. F. Nugent, LL. D 314 

William J. Bryan 334 

Maps of Election - 342 

Fred E. White 364 



PREFACE. 



My Fellow Citizens of the United States: 

IMMEDIATELY after the close of the 1896 presidential campaign, 
the author commenced the preparation of "The Silver Side, 
1900, Campaign Text-Book," the purpose being to produce a work 
that should, as its title indicates, be a guide or reference book for 
the consideration and better elucidation of present issues, and 
perhaps others to become more or less prominent in the coming 
four years' contest. The following important subjects that were to 
some extent discussed in the last contest will be brought more 
prominently before the people from 1897 to 1900. 

First, The principles, declarations and commendations of the 
Chicago convention platform, adopted July 9, 1896. All are en- 
dorsed by "The Silver Side," and should be kept prominently before 
the public, especially the remonetization of silver, and the free 
coinage of both silver and gold at the ratio of 16 to 1, and the 
maintenance of the double standard under which this nation 
enjoyed its greatest prosperity. 

Second, An income tax. The fact that the rich men of the 
nation determinedly oppose it, millionaires the most vehemently of 
all, is a strong argument in its favor. Men who have accumulated 
vast estates and great railroads by the issuing of watered stocks, 
and, not least in numbers, savings bankers, by rich failures, pocket- 
ing poor men's deposits, thereby providing for their own incomes, 
all from the labor of the people, and now, having annual dividends 
amounting to many thousands, stubbornly refusing to pay an in- 
come tax, and, finally, through the supreme court, obtaining a ver- 
dict of unconstitutionality by a majority of one, with one of the 
justices absent; had he been present the result would have been 
favorable, thus saving $60,000,000 annually for the people. Im- 
mediate action is demanded, and if properly applied, will do more 
to level and distribute business and industrial enterprises than any- 
thing else. Further, this decision clearly conflicts with past de- 
cisions of same court. 

Is it right, is it just, that the stockholder, living sumptuously, 
receiving half a million on his railroad stock semi-annually, 



6 PREFACE. 

should pay no more personal tax than the hard-working track- 
man of his railway, working for $1.25 per day, his only means of 
support for himself and family? 

Third, The nation should provide an ample volume of currency 
for the payment of laborers unable to procure work elsewhere, 
to be employed on public improvements, thus opening the way 
for the employment of men, when at times like the present they 
are forced into idleness, pauperism, and too often,- rather than 
starve, incited to the commission of crime. 

Fourth, Arbitration for the settlement of all labor difficulties. 

Fifth, The establishment by the government of postal savings 
banks. This is a very important question, directly in the interest 
of the people, one of the topics to be earnestly advocated. It is 
specially considered and lucidly presented in a chapter of this work 
by Hon. Frank L. Strong. In connection therewith, special atten- 
tion is called to that section of English postal bank laws providing 
a permanent fund, guaranteeing to the depositor a fund as sure 
and safe as the government itself for advanced age, or in case of 
adversity, and in striking contrast for cheapness with the life in- 
surance, monopolistic, existing companies; as now conducted, one 
of the greatest money monopolies we have, and, like other financial 
combinations, bribing and corrupting legislatures. 

The recent failure of many so-called savings (?) banks, and the 
immense losses of thousands of poor people, ought to arouse to 
action. Banks and bankers oppose postal savings banks, of course 
they do! Their opposition has hitherto prevented congressional 
action, but it is coming. 

Sixth, Banks should be confined to the business of discount and 
exchange, wholly divorced from government. 

Seventh, Let the tariff be on a revenue basis, except as re- 
gards nations or dependencies which refuse reciprocity in exchange 
of products with the United States. 

Trusts and combines should be crushed and national compet- 
itive opportunities restored. 

Eighth, Election of United States senators by the people. The 
patriotic citizens of this country, irrespective of party, who have 
hitherto questioned the propriety of changing from the present mode 
of electing, after witnessing the almost open, corrupt bargainings 
and schemings in so many state legislatures, where senatorial 
elections were held during the winter of 1896-97, certainly can 
doubt no longer, the absolute necessity of change, and will demand 
that the constitution be so changed as to permit the election to 
come directly from the people. The prevailing system was perhaps 
best in the early years of the republic, when representatives in state 
legislatures could be trusted; a time when they could not be bought 



PREFACE. 7 

as now by millionaires and by corrupt insurance, railroad, banking 
and other plutocratic monopolies, combinations and trusts, now 
sapping the very foundations of the government. 

The foregoing subjects, and topics germane to them, are herein 
ably presented by highly esteemed contributors, by men who have 
carefully investigated, and are now able to give practical thoughts 
on these vital political questions now before the American people. 

The remonetization of silver, adjustment of the conflict between 
labor and capital, the establishment of postal savings banks, and, 
above and beyond all, the utter condemnation of the plutocratic 
methods of controlling legislative bodies and laboring men by the 
use of money at the polls, and by coercion in many ways, more in 
1896 than ever before, should be questions pushed to the front in the 
^reat contest before the people; they must be settled right in 1900, if 
not before. 

Friends, the author submits the promised work, hoping it will be 
approved; that it will be an aid, and of value to the party I cannot 
doubt. Herein will be found articles on live subjects by the very 
ablest writers, and from the most devoted friends of the party that 
is seeking to restore the country to the prosperity it enjoyed be- 
fore the practical adoption of the gold standard, and the demonetiza- 
tion of half our money. 

It is fully as important that the congressional elections of 1898 
should be won by the friends of bimetallism as the presidential elec- 
tion of 1900. Should the gold standard party get control of the 
next congress, victory in 1900 would be comparatively a barren one. 
Let this be fully understood and every man should work accord- 
ingly. 

Herein the reader will find facts, and able arguments from 
Democrats, Silver Republicans, Populists, advocates of change in 
our social and educational system that cannot fail to favorably 
impress all who attentively read them. For all we bespeak an un- 
prejudiced, careful consideration. 

To the young voter the author makes special appeal. In the 
production of this work, particular attention has been had to the 
giving of facts in the political history of the nation, that, with this 
text-book in hand, and familiarized with its contents, will enable 
him to become an active and efficient worker in the overthrow of 
wrongs and the uplifting of humanity. The writer's fourscore years, 
and an active life, with its varied experiences, he trusts will ex- 
cuse this assuming to give advice. 

If unremitting labor and an earnest desire to produce a truly 
useful book could bespeak for the author the unqualified favor of 
the public, he would feel some degree of confidence that a fair 
portion of that favor would come to him; but the labor of an 



8 PREFACE. 

author or compiler and his good intentions are seldom appreciated; 
the author of "The Silver Side," therefore, must rely wholly upon 
the merits of the work for the approbation of those whose favor 
he seeks. 

A few who promised help financially and otherwise have 
failed, but to all who have contributed to its columns so eminently 
satisfactorily the author's most sincere thanks are given. He has 
no expectations of living to witness the success of the reforms herein 
advocated; he does, however, desire to live to see the cause of 
the present distressed condition of the people removed, the conse- 
quent sufferings somewhat ameliorated, and measures inaugurated 
to prevent further plutocratic encroachments upon the political and 
social rights of the people. He is compelled, however, to say, from 
the present national administration no help can come; that the 
president with his banking and millionaire cabinet will be con- 
trolled by the money power there is hardly a doubt; every citizen 
setting aside partisan feelings wishes it were otherwise, but hope too 
long deferred maketh the heart sick. 

Nevertheless, if present sufferings and deprivations shall inspire 
the weary laborer in field or shop to work as American voting free- 
men are capable of working, the correction of existing evils, social 
and political, will be easy. 

What can we not endure, 

When pains are lessened by the hope of cure? 




TABLE OF CONTENTS. 



CHAPTER I. 
The Party Issues of 1897, 1898, 1899, 1900 By the Author 

CHAPTER II. 
Shall the Republic be Ruled by Men or Money? By Rev. Dr. H. W. Thomas 

CHAPTER III. 
The Distribution of Wealth By U. S. Senator R. F. Pettigrew 

CHAPTER IV. 
Plutocratic Usurpations By Gen. James B. Weaver 

CHAPTER V. 
The Curse of a Monstrous Crime is Upon Us By Gov. Horace Boies 

CHAPTER VI. 
The Business Man as Affected by the Gold Standard. By Judge Wm. Connor 

CHAPTER VII. 
The Coming Struggle By James B. Smiley 

CHAPTER VIII. 
The Trend of Present Conditions By Hon. E. M. Carr 

CHAPTER IX. 
Industrial Slavery and the Sale of the Republic — The Road to Emanci- 
pation and Redemption By Wharton Barker 

CHAPTER X. 
Effects on Laboring Men of Demonetizing Silver By J. B. Smiley 

CHAPTER XI. 
Starvation in the Midst of Plenty By the Author 

CHAPTER XII. 
Nero Danced While Rome Burned By the Author 

CHAPTER XIII. 
Educational Endowments and Industrial Bondage. .By Walter Thomas Mills 

CHAPTER XIV. 
Labor Notes. A Compilation By the Author 

CHAPTER XV. 
Demonetization of Silver — Historical Compilations and Comments 

By the Author 

CHAPTER XVI. 
Hard Times By Hon. Frank Evans 

CHAPTER XVII. 
What is Money? By Leonard Brown 

CHAPTER XVIII. 

Bimetallism — Monometallism By Gen. A. J. Warner 

9 



lo -table of contents. 

CHAPTER XIX. 
Will Bimetallism be Restored Under McKinley? By the Author 

CHAPTER XX. 
Compound Unit of Value — Gold and Silver of the World.. By the Author 

CHAPTER XXI. 
American Bimetallic Union; Its Address to the People 

By Gen. A. J. Warner 

CHAPTER XXII. 
Address to Friends of Silver By United States Senators 

CHAPTER XXIII. 
Address to Advocates of Bimetallism of Iowa By a Special Committee 

CHAPTER XXIV. 
The Money Power Warnings to Organize Wealth Compiled Notes 

CHAPTER XXV. 
The Supreme Court — Encroachments of the Federal Judiciary 

By Judge W. A. Spurrier 

CHAPTER XXVI. 
Postal Savings Banks By Frank L. Strong 

CHAPTER XXVII. 
Patriots vs. Politicians By Miss Minnie F. Murray 

CHAPTER XXVIII. 
Conspectus of Political Party History By the Author 

CHAPTER XXIX. 
Presidents — Washington to McKinley By the Author 

CHAPTER XXX. 
History of Our National Flag By the . Author 

CHAPTER XXXI. 
Political Economy. A Compilement By the Author 

CHAPTER XXXII. 
Timely Aphorisms, Multum in Parvo, Selections By the Author 

CHAPTER XXXIII. 
Some logical Corollaries By Captain J. W. Muffly 

CHAPTER XXXIV. 
The Existing Gold Standard By ex-Chief Justice C. C. Cole 

CHAPTER XXXV. 
The Relation of the Farmer and of the Laborer to the Economic Prob- 
lem By Rev. J. L. Nugent 

CHAPTER XXXVI. 
American Oratory — Chicago Convention Speech of Hon. Wm. J. Bryan 
By the Author 

CHAPTER XXXVII. 
1897 Party Platforms. A Review By the Author 

CHAPTER XXXVIII. 
Presidential Election of 1896; Its Results By the Author 

APPENDIX. 
The Silver Cause in Iowa By the Author 



INDEX. 



Chapter. Page. 

An Amazing Scandal II 38 

Against the Wealth Producer VIII 80 

Average Gold Prices of Commodities and Silver Forty- 
Nine Years XIX 139 

Agitation for Silver, Cause of Hard Times XVI 158 

Abundance of Money Always Brings Good Times XVII 171 

A Compound Unit of Value XX 182 

American Bimetallic Union, Address to the People XXI 187 

Address and Resolutions XXI 189 

Annuities and Life Insurance in Postal Banks XXVI 222 

A Century of Republican Government Success XXVIII 237 

Are Political Parties Desirable? XXVIII 238 

Adams, John, President of the United States XXIX 247 

Adams, John, Minister to Great Britain XXIX 248 

Adams, John Quincy, Sixth President XXIX 251 

Arthur, Chester A., Twenty-First President XXIX 260 

American Oratory XXXVI 335 

AnUnevenLoad XIV 128 

Brussels Monetary Conference of 1892 VI 66 

Bland- Allison Act of 1878 XV 141 

Bond Issues XV 151 

Bankers Should not be Allowed to Fix the Supply XVII 172 

Bimetallism-Monometallism XVIII 174 

Buchanan, James, Fifteenth President XXIX 257 

Bryan, Hon. Wm. J., Chicago Convention Speech XXXVI 336 

Crimes Increase — The Cause I 18 

Campaign of 1900 — Prospectively I 24 

Curse of a Monstrous Evil is Upon Us V 58 

Currency that Saved the Nation to be Destroyed V 59 

Concentration of Wealth VII 72 

Campaign Contributions IX 99 

Confidence Promised to be Restored on Repeal of the Sher- 
man Law X 106 

Contest Between the Money Power and the People XII 121 

Colleges Silent on Economics Affecting Industrial Subjects. XIII 126 

Competition of Silver Using Countries XIV 143 

Closing of the East India Mint 149 

Conduct of the Money Power When Government Was 

Struggling for Life XV 163 

Country's .Financial Condition in 1865 XV 165 

Coinage United States Mints XX 184 

Corporations Unduly Favored XXV 210 

Co-operation of Silver Parties Necessary XXIII 195 

Canada Savings Banks XXVI 226 

Conspectus of Political Party History XXVIII 235 

11 



12 INDEX. 

Chapter. Page. 
Cleveland, Grover, Twenty-Second and Twenty-Fourth 

President XXIX 261, 262 

Control of Currency, the Real Motive of the Money 

Power XXXIII 294 

Change Presidents and Party, but Keep the Pain XXXIV 303 

Change of 23,000 Votes Would Have Defeated McKinley. . .XXXVIII 360 

Dissatisfaction of Workingmen — The Cause I 23 

Distribution of Wealth Ill 43 

Decisions of Supreme Court not Infallible, Sometimes Ar- 
bitrary XXV 205 

Democratic Platform, 1896 XXXVII 344 

Disparity the Result of Government Hostility XXX 305 

Evolution of the Ethical Sense II 29 

Enslavement of the Wage Earner IX . 86 

Effect on Laboring Men of Silver Demonetization X 101 

Effect of the Gold Standard on Labor X 101 

Educational Endowments and Industrial Bondage XIII 121 

Endowments Pernicious, Undesirable XIII 121 

Evidence of the Need of Silver XXIII 193 

Encroachments of the Federal Judiciary . XXV 201 

English Postal Savings Banks XXVI 218 

Effects of Postal on Private Savings Banks XXVI 222 

Executive Usurpations XXXIV 302 

Election of 1896— Its Results XXXVIII 356 

False Prophets and Promises I 24 

Feudal Age of Money II 35 

Facts, Monopolistic, that Should Arouse the Nation Ill 50 

Feudalism VIII 82 

Free Coinage the Remedy IX 98 

Fearful Forebodings for the Future of Working Men X 106 

Financial System — Trusts and Combines the Cause IX 111 

France Savings Banks XXVI 223 

Fillmore, Millard, Thirteenth President XXIX 256 

Flag as Adopted by Congress XXX 267 

Free Coinage of Silver Will Restore Parity XXXIV 308 

Greater Evils I 20 

Great Britain's Prosperity VI 71 

Gamblers in Wealth VIII 78 

Growth of the Army of the Unemployed IX 90 

Gold and Silver of the World XX 182 

Gold Should be Cheaper XXIII 196 

Grant, Ulysses S., Eighteenth President XXIX 259 

Garfield, James A., Twentieth President XXIX 260 

Gold the Only Real Money, Supposedly XXXIII 288 

Gold Standard Theory, Independent of Law XXXIII 289 

Government Can Maintain Silver and Gold Parity XXXIII 310 

How the Corporations Accumulated Their Vast Wealth. . . .II 33 

How It is Accomplished II 36 

Hope of Redemption IX 100 

History's Warning to America X 108 

Hours of Labor Required to Provide Necessaries of Life 

Lessened XIII 123 

How and Why Silver Was Demonetized XIV 136 

Hard Times XVI 155 

Hoarding Dangerous XXVI 217 



INDEX. 13 

Chapter. Page. 

History of English Savings Banks : XXVI 218 

Harrison, Gen. Wm. Henry, Ninth President XXIX 254 

Hayes, Rutherford B., Nineteenth President XXIX 260 

Harrison, Benj., Twenty-Third President XXIX 261 

History of Our National Flag XXX 264 

How It Came XXXIV 298 

Honor Due Gov. Hastings XIV 133 

Is the Campaign of 1900 to be Decisive? I 26 

Initiative and Referendum VII 75 

Industrial Slavery and the Sale of the Republic IX 85 

Irregular Employment a Result X 104 

Increase of Money for General Welfare XVII 169 

Inevitable Conclusion XVIII 176 

Imports and Exports of Gold and Silver XX 184 

Iowa Silver Address XXIII 194 

Instability of Private Savings Banks XXVI 215 

Indifference to Public Affairs Dangerous XXVIII 244 

International Bimetallism Impracticable XXXIV 306 

Immense Silver Interests of the United States XXXIV 307 

International Bimetallism Against Our Interests XXXIV 307 

Jefferson, Thomas, Third President XXIX 248 

Jackson, Andrew, Seventh President XXIX 252 

Johnson, Andrew, Seventeenth President XXIX 259 

Japan and the Gold Standard XXXIII 296 

Labor Notes XIV 128 

Lincoln's Prophecy II 32 

Legalized Wrong II 36 

Losses Caused by Decline in Prices VI 69 

Laborers Warned X 105 

Lincoln and Douglass Debate — What Was Said of Su- 
preme Court XXV 203 

Labor Benefited by Abundance of Money X 108 

Life Tenure of Office Criticised XXV 204 

Location of Savings Banks XXVI 215 

Lincoln, Abraham, Sixteenth President XXIX 258 

Legal Tender Act of 1862 XXXIII 291 

Men Who Won the Victory of 1896 1 21 

Methods of Men and Parties to Defeat the People I 22 

Martyred President's Prophecy Fulfilled II 32 

Must We Wait on Great Britain for the Remedy? IX 91 

Miners Lose Under the Gold Standard X 103 

Money Has no Intrinsic Value XV 161 

Monetary Conditions Should be Fixed by Law XVII 169 

McKinley for Silver in 1893 XIX 179 

Monetary Systems of the World XX 183 

Money Power XXIV 198 

Madison, James, Fourth President XXIX 249 

Monroe, James, Fifth President XXIX 249 

McKinley, Wm., Twenty-Fifth President XXIX 262 

Making the First Star Spangled Banner XXX 268 

Money Power Responsible for Decline in Prices XXXIV 302 

Monroe Doctrine XXIX 250 

Money in the Country and in Circulation XX 185 

Nothing to Fear from a Premium on Gold IX 96 



14 , INDEX. 

Chapter. Page. 
Not Over-Production, but Under-Consumption the Trou- 
ble X 105 

Nero Danced While Rome Burned XII 117 

Not Desirable to Have the Money of the World the Same. .XVII 170 

No Prosperity without Silver XXIII 194 

No Use for National Banks, Bryan's Speech XXXVI 339 

Of Government in General II 29 

Our Loss Great Britain's Gain IX 93 

Our Ability to Maintain the Parity Between Gold and 

Silver IX 96 

Over-Production Theory XV 160 

Organization Alone Can Maintain Bimetallism XXXIV 300 

Populist Party Platform, 1896 XXXVII 344 

Party Platforms of 1896, a Review. ...XXXVII 340 

Preface, Giving Platform of "The Silver Side, Campaign 

Text-Book" I 5 

Present Conditions I 1? 

Plutocratic Usurpations IV 54 

Party of Property Rights and Human Slavery IX 87 

Pitfalls and Dangers IX 101 

Pulpit Denunciation of Plutocratic Ways XII 117 

Producers and Non-Producers, Debtors and Creditors. .. .'XV 145 

Prices and Confidence Under the Gold Standard XV 158 

Patriotic (?) Bankers, 1860-1865 XV 162 

President McKinley in the Hands of the Money Power XIX 179 

Product of Gold and Silver in the United States XX 184 

Promises not Fulfilled XXIII 196 

Postal Savings Banks XXVI 215 

Postoffice Savings Banks, United Kingdom XXVI 219 

Patriots vs. Politicians XXVII 231 

Presidents, Washington to McKinley XXIX 249 

Polk, James K., Eleventh President XXIX 255 

Pierce, Franklin, Fourteenth President XXIX 257 

Political Economy ? XXXI 271 

Reasons for Publication of "The Silver Side" I 19 

Railroad Monopolies Ill 63 

Response to Gov. Boies V 88 

Rome as a Warning IX 89 

Republican Party Tool of Oligarchy IX 142 

Royal Commissions of 1896-1897 XV 148 

Repeal Did not, as Promised, Restore Prosperity XV 160 

Repeal of the Purchase Clause of the Sherman Law XV 148 

Relation of the Farmer and the Laborer to the Economic 

Problem XXXV 320 

Shall the Republic be Ruled by Men or Money? II 29 

Statement that National Debt Was Contracted Upon Gold 

Basis False V 59 

Struggle for Freedom VII 73 

Silver Demonetization Cause of Falling Prices IX 91 

Selling the Republic for Gold IX 98 

Starvation in the Midst of Plenty XI 109 

Self- Reliance, Independence, Better than Endowments XIII 126 

Silver Demonetization XV 133 

Silver Free Coinage XV 165 

Source of Value in Metallic Money XVIII 175 



INDEX. 15 

Chapter. Page. 

Silver, U. S. Senator's Address XXII 192 

Silver Address Iowa Committee XXIII 194 

Some Decisions of the Supreme Court Righteously Criti- 
cised XXV 208 

Savings Banks of European Countries XXVI 224, 225 

Savings Banks of the United States XXVI 226 

Savings Banks of the United States, History of the Move- 
ment XXVI 228 

Some Logical Corollaries XXXIII 290 

Silver Republican Platform of 1896 XXXVII 343 

Timely Warning I 20 

The Young Politician I 25 

The Long Struggle II 30 

The Present Conditions II 31 

The Remedy II 34 

Thomas, Dr. W. H., on the Supreme Court II 40 

Trusts and Syndicates II 41 

The Last Battle II 65 

The Business Man as Affected by the Gold Standard VI 72 

The Coming Struggle VII 73 

The Dangerous Class VII 75 

The Great Special Privilege VII 77 

The Trend of Present Conditions VIII 78 

The Slave of Poverty IX 88 

The United States Can Force Bimetallism IX 94 

The Modern and Better Theory X 101 

The Bitter Fruits of Demonetization X 109 

The Better Way XIII 127 

The Effect of Demonetization XV 138 

The Appreciation of Gold XV 140 

The Sherman Law XV 146 

Tariff Theory XVI 157 

The Baring Failure XV 147 

The Hard Times — Cause and Remedy XVI 156 

The Power of the European Gold Trust XV 172 

The Supreme Court II, XXV 37, 201 

The Money Power XXIV 198 

The Chicago Convention Justified XXV 200 

The English Savings Bank System XXVI 220 

The Card System of Postal Bank Deposit XXVI 221 

The Patriotism and Peace of War XXVII 232 

The Lamentable Contract XXVII 233 

The Rise of Political Parties XXVIII 236 

Twenty-Five Presidents, Washington to McKinley XXIX 241 

The Monroe Doctrine XXIX 250 

Tyler, John, Tenth President XXIX 254 

Taylor, Zachary, Twelfth President XXIX 255 

Timely Aphorisms XXXII 278 

The Gold Standard Fully Established, Then What? XXXIII 292 

"The Existing Gold Standard" XXXIV 298 

The Sherman Silver Act of 1890 XXXIV 300 

The Relation of the Farmer and the Laborer to the Eco- 
nomic Problem XXXV 314 

Unpatriotic Gold Party Union I 23 



16 INDEX. 

Chapter Page. 

Use of Machinery as Affecting Wages X 108 

Uncoined Gold and Silver not Money XVII 168 

United Action Demanded XXVII 234 

Van Buren, Martin, Eighth President XXIX 253 

Votes of 1896 for President Electors, and Popular XXXVIII 357 

Victory for Labor XIX 133 

"Wage and Property Depreciation I 19 

Warnings from Rome, Will This Republic Heed? Ill 45 

Why Great Britain Champions Gold IX 92 

Wheat from Silver Countries XIV 144 

What Is Money? XVII 168 

Will Bimetallism Be Restored Under McKinley? XIX 177 

The United States Legalized the Use of Foreign Silver XX 185 

Warnings to Organized Wealth and the Money Power XXIV 200 

Washington as Commander of the Army XXIX 248 

Washington, Resignation of His Command XXIX 250 

Washington as President XXIX 255 

Why We Used and Legalized Foreign Silver XX 185 




CHAPTER I. 

THE PARTY ISSUES OF 1897-98-99 AND 1900. 

BY THE AUTHOR. 

The bimetallic question, the immense aggregations of individual 
wealth, its investments in trusts, banking, railroad monopolies and 
the many combinations seeking to control legislation, national and 
state, and so shape financial conditions as to give capital the full 
command of labor on the farm, in shop and manufactory, are the 
live political issues of the present. The American people in this 
crisis in the life of the republic are called upon to consider and 
settle these questions, not for this country alone, but for the world 
of humanity. All would have been decided ere this in favor of cap- 
ital, and the laboring classes held in greater subjection than now, 
but for the organization of workingmen into associations for self- 
protection, commenced twenty years ago. Their combined efforts 
have partially averted the wrong intended. The manifest benefits 
of these associations to the laborers have become so apparent that 
the chief work of greedy corporations now and for several years 
past, through the courts and by legislation, has been to counteract 
and if possible destroy the power and influence of all protective 
unions. In proof of this last statement, only one case will be re- 
ferred to, whereas thousands could be. January 30, 1897, the day 
before this writing, the miners of Rutland, 111., having been obliged, 
by the cutting of their wages some time previous, to strike, after 
many weeks of deprivation, finally with complete starvation staring 
them in the face, again failing to get work, were forced to sign an 
ironclad contract, which practically makes slaves of the under- 
ground toilers. The miner must agree to leave the Miners' Union, 
to take no part in any strike, such action on his part forfeiting all 
pay that may be due him from the mine owner, and he must on all 
occasions follow the dictation of his boss and accept whatever wages 
may be paid him. 

The workmen are disheartened, crushed, and many of them 
signed the contracts to keep their families from starvation. 

Present Conditions. 
The author beholds three million of American citizens down in 
poverty and despair, homeless, suffering for food, wandering from 
2 17 



18 THE SILVER SIDE— Campaign Text-Book. 

city to city and from county to county among the farmers of every 
state seeking employment; finding none, many die of starvation, 
many more by their own hands. City and country journals are 
filled with accounts of men and women seeking release from the 
sufferings of a life in which they see no ray of hope for the future. 
Of the number of deaths by suicide the present has never been 
equaled in this or any other country. Readers of daily papers turn 
from their recitals with feelings of horror, and ask, what is the 
cause? The above truthful, far from overdrawn, portrayal gives the 
answer. 

Suicide and Insanity* 
The official statistical report of crimes and casualties in the 
United States for 1896 shows the number of suicides to be 6,520. 
Causes: Despondency, 2,993; insanity, 428; cause "unknown," 
2,442. Doubtless, could the truth be revealed about the "unknown," 
the great majority would be found to come from disappointment in 
business caused by depreciation in values, and loss of property in 
consequence; the 428 insane, largely to the same source. In 1890 
deaths from suicide were 2,040; 1891, 3,531 ; 1892, 3,861 ; 1894, 4,912; 
1895, 5,759. The increase is in almost exact ratio with the decrease 
in employments, decline in prices and failures in business. 

Crimes Increase. 
Another, perhaps the most lamentable, result of the enforced 
idleness of the millions, is the great increase of crime. If the reader 
will consult the census report of crimes for 1870, he will learn there 
were confined in the prisons of the United States 3,291 persons, 
including white and colored native population, and foreigners. The 
inmates were sentenced for murder, robbery, larceny, etc. This 
was three years before the demonetization of silver. In 1896 11,652 
were confined for one crime, murder — more than three times the 
number of 1870, including all offenses. Add to these the number of 
suicides, 6,520, and the result gives one-half of the number 
for all kinds of crime committed in 1870 and preced- 
ing years. Think of it! In 1896, the year just closed, 
an army of murderers and suicides of nearly 20,000! All 
this in Columbia, the land of Washington and Lincoln; free, 
happy America! where a few years ago there existed the least 
deprivation, suffering and crime, with more happy homes, and the 
most prosperous, contented people to be found in any nation of the 
globe. Must the sadly changed conditions continue? Some of the 
causes producing these calamitous times have been alluded to, oth- 
ers will be named by eminent writers for this work, and remedies 
suggested. Surely in view of these facts ever}- 1 patriotic citizen 
will realize the necessity for immediate action. 



THE PARTY ISSUES OF 1897-98-99 AND 1900. 19 

Reason for the Publication of This Work, 
The foregoing paragraphs indicate in part the purpose and 
scope of The Silver Side, and some of the causes that call for its 
publication. By the adoption of the name it is not intended to 
convey the idea that the contents of its over 400 pages are to be 
limited to a discussion of the 16 to 1 issue, so prominent in the presi- 
dential campaign of 1896. 

The revelations of the last six months make sure the now un- 
disputed fact that the recent election in its result was procured by 
the use of money to the amount of $15,000,000. The people in 
consequence are alarmed; the issues have broadened; it is now more 
than the financial problem. Our free institutions are involved in the 
outcome of the vital questions now pending. Nevertheless, that 
plank of the Chicago platform, the full restoration of silver, will be 
herein persistently advocated. 

That the chief dangers now threatening to undermine and possi- 
bly destroy the basic principle upon which the public rests, "A gov- 
ernment of the people, by the people, and for the people," had their 
origin in, and the calamities that followed have been principally 
caused by, the demonetization of the silver half of our constitutional 
money by the act of 1873, and the practical adoption of the single 
gold standard, cannot be gainsaid. That act gave opportunity for the 
enrichment of thousands, and caused the impoverishment of mill- 
ions. From that time to the present the disparity of the two classes 
has been increasing, until we have millionaires almost as numerous, 
and our plutocratic classes with lines of demarkation drawn between 
them and the great mass of American voters as distinct, as in the 
single gold standard nations of Europe. 

"Wage and Property Depreciation* 

In other directions effects of the legislation of 1873 have 
been no less pernicious. Under the scorching rays of the 
gold dollar, the value of the farm and its products have shriveled 
and shrunken as do grasses and leaves in the hot breath of sirocco 
winds. The right to live is inherent in every man. The system 
that takes opportunity away from those willing to work is not only 
wrong, it is infamous. There would be no pauper class in this great 
country if crafty individuals had not built up unreasonably 
large fortunes by questionable methods, and then combining with 
others of the same ilk perpetrated the greater wrong, creating trusts 
for the purpose of enhancing the price of all products necessary to 
supply the wants of the people. The effect is that in the midst 
of plenty thousands are in want. No power on earth equals starva- 
tion to make men desperate. In one of the histories of the United 
States the author says: 



20 THE SILVER SIDE— Campaign Text-Book. 

"It is the mission of the United States to ennoble toil and honor the 
toiler. In other lands, to labor has been considered the lot of serfs and 
peasants; to gather the fruits and consume them in luxury, the business of 
the great." 

Under the single gold standard are we not approaching very 
near that condition? Does it not tend directly to renew, as in 
European society, the old order of lord and laborer? It has always 
been considered the genius of American institutions to wipe out 
these distinctions. Let it be their pride and boast still. 

A Timely Warning. 

If plutocrats cannot see in this annually increasing number of 
mendicants and unemployed, that the day of reckoning must come 
to society and themselves, it shall not be the fault of The Silver 
Side or its contributors. 

In the people's hands this republic is safe, but when American 
voters, such large numbers of the middle class are sinking into 
poverty, and money becomes the controlling power, thoughts of the 
future become truly alarming. No one can deny or doubt the state- 
ment, differ as they may about the cause, that the impoverished 
class has been increased by millions since 1873. Must this increas- 
ing number of the unemployed and destitute continue? Yes, just 
as long as finance laws and conditions favor classes by special legis- 
lation, millionaires will multiply. The overaccumulation of one 
man means that a hundred thousand others have in some way 
been deprived of a portion of what justly belongs to them. Labor- 
ing men have learned by recent experiences of not a few of the 
peculiar methods resorted to by the capitalistic politician to get the 
control of votes. 

Will employers having money to invest in the labor of their 
fellow-citizens take timely warning; yield the unholy advantage 
that scarcity of money gives them over their employes, and divide the 
earnings of labor more equitably? Give the producer of wealth a 
larger share of the profits? 

The Greater Evils. 

Poverty of the people, deplorable as it is, and wrongful as 
have been the causes that have produced it in this fair land of 
plenty, is not the greatest evil; the one most to be dreaded for the 
future of the republic, and its free institutions, lies in the well- 
known fact that money, the accumulation of capital made easy by 
the favorable legislation of the congress of 1873, has been used 
not only to corruptly influence state and national legislation, but 
to control party conventions. 

For evidence the reader need go no further back than the St. 



THE PARTY ISSUES OF 1897-98-99 AND 1900. 21 

Louis convention of the Republican party/ of 1896. No intelligent 
citizen who attended that convention, or read the public journals 
giving account of its proceedings; of the immense attendance of 
wealthy men of the nation, of the hundreds of managers of trusts 
and combinations there assembled, and the efforts, finally suc- 
cessful, to place Mr. McKinley upon a gold standard platform, will 
question the statement that money interests ruled the convention, 
and controlled the nominations. There the party made its gigan- 
tic mistake. It ignored the prevailing sentiment in favor of the 
use of silver, disregarded its action of 1888 and 1892, in fact all its 
past party history, the previous and oft repeated declarations of 
its leaders, and adopted the single gold standard. On that plat- 
form the convention placed William McKinley as its candidate, 
who in 1890 said: 

I am for the largest use of silver in the currency of the country. I 
would not dishonor it. Iwould give it equal credit and value with gold. 
I would make no discrimination. I would utilize both metals as money and 
discredit neither. I want the double standard. 

This declaration was supplemented by his vote for the free coin- 
age of silver, which plainly indicates what his preference would be, 
if at liberty to choose between the single gold standard and the free 
coinage of silver. 

Other candidates and their friends were present, but were too 
late to succeed; it had been decided by Mr. Hanna and other mill- 
ionaires with whom he had been in close consultation for several 
months. The 150 palatial cars that brought these gold magnates 
from the east stood on the side-track, awaiting the return of their 
owners. 

The Men "Who "Won the Victory of J 896. 

Mark Hanna, to accomplish his purpose in the convention and 
subsequently in the campaign, made use of the Union League com- 
mittee. A majority of its capitalistic members were in attendance 
as delegates or in the lobby. That readers may be assured of the 
correctness of the statement the names of nearly half a hundred are 
given, their wealth ranging from $2,000,000 to $125,000,000, aggre- 
gating $552,250,000. We will not pause to consider, except in one 
instance, how these men accumulated these vast, almost incompre- 
hensible amounts. Citizens generally know of the great Standard 
Oil Company monopolist, John D. Rockefeller. His multi-millions 
came in small amounts, largely from the poor people, able to pur- 
chase only in small quantities. The wealthy could purchase by the 
barrel, hence cheaper; nevertheless, all classes have contributed. 
Mr. Rockefeller, through the Standard Oil Company, fixes the price 
all over the United States, Canada, and largely, in Europe and the 



22 THE SILVER SIDE— Campaign Text-Book. 

business world. He crushes all opposition. This is only one of the 
thousand trusts and combinations of wealth grinding the poor. 

John D. Rockefeller, $125,000,000; Cornelius Vanderbilt, $100,- 
000,000; C. P. Huntington, $60,000,000; J. Pierpont Morgan, $25,- 
000,000; Joseph Milbank, $20,000,000; Andrew Carnegie, $20,000,- 
000; William D. Sloane, $15,000,000; John Sloane, $15,000,000; 
David Dows, $12,000,000; Herman O. Armour, $12,000,000; Bray- 
ton Ives, $10,000,000; John H. Starin, $10,000,000; George Bliss, 
$8,000,000; Samuel Thomas, $7,500,000; Charles L. Tiffany, $7,000,- 
000; Le Grand B. Cannon, $6,500,000; Henry H. Cook, $6,500,000; 
Seth M. Miliken, $6,000,000; James A. Burden, $5,000,000; John G. 
Moore, $5,000,000; Edward D. Adams, $5,000,000; George F. Ba- 
ker, $4,500,000; Cornelius N. Bliss, $4,500,000; M. C. D. Borden, 
$4,000,000; William Brookfield, $3,750,000; William C. Browning, 
$3,500,000; Charles T. Cook, $3,500,000; John H. Davis, $3,250,000; 
James H. Harper, $3,250,000; Charles D. Fosdick, $3,250,000; Mar- 
cellus Hartley, $3,250,000; Augustus D. Juilliard, $3,000,000; 
Charles Lanier, $3,000,000; Edward H. Perkins, Jr., $3,000,000; 
Frederick D. Tappen, $3,000,000; William H. Webb, $3,000,000; 
Alfred Van Santvoord, $3,000,000; Charles A. Peabody, $2,500,000; 
James A. Garland, $2,500,000; Woodbury Langdon, $2,250,000; 
Thomas L. James, $2,000,000; Joseph H. Choate, $2,000,000; Will- 
iam S. Hawk, $2,000,000; Whitelaw Reid, $2,000,000; Washington 
E. Connor, $2,000,000. Total, $552,250,000. 

Methods of Men and Parties to Defeat the People. 

Here we might perhaps profitably pause to contrast this con- 
vention and its members with the convention that nominated Abra- 
ham Lincoln, the first Republican president. No! the contrast 
is too great, the thought painful. The party was organized to effect 
a great, noble purpose; it was indeed a party of the people, for 
the people. Among its scores of patriotic leaders, besides Abraham 
Lincoln, were Charles Sumner, Thaddeus Stevens, Governor Mor- 
ton, Zachariah Chandler and a host that could be named, men who 
would have scorned and angrily resisted the intimation to swerve 
from public duty. Millions could not buy, no earthly power intimi- 
date. Under the controlling influence of gold the government 
has become a "government of trusts, by the trusts, and for the 
trusts." 

In direct connection with this subject attention is called to the 
chapter of this work, written by Dr. H. W. Thomas, of Chicago, 
"Shall the Republic be Governed by Men or Money?'' Equally 
appropriate is the contribution of Hon. R. F. Pettigrew, South Da- 
kota United States Senator, "The Distribution of Wealth/' 

It has been charged, and not denied, that the cost of the cam- 



THE PARTY ISSUES OF 1897-98-99 AND 1900. 23 

paign under the management of Mr. Hanna was $15,000,000. A 
larger amount than was expended in 1884, 1888, and 1892, the three 
most desperately fought and expensive contests of the party; all 
this to obtain power to permanently establish the single gold stand- 
ard. However good may be the intention of Major McKinley, his 
administration born of such influence as it has been, cannot, will 
not, be in the interests of the people. 

During the campaign, William J. Bryan, the chosen leader of 
the people, and all who participated with him in the contest, were 
charged with being anarchists, repudiationists, destructionists, etc. 
With the facts herein given it will not be difficult for the honest 
American voter to decide to which of the two parties these epithets 
most justly belong. 

Dissatisfaction of "Workingmen — The Cause. 

In view of the evidence presented, should any one be surprised 
because of complaints from the working classes, farmers, artisans 
and daily laborers, in factory and field? Is not the dissatisfaction 
chiefly due and justly chargeable to the overbearing dictation and 
oppression of capitalists? 

The inquietude among working men may, in part, be rightly 
attributed to other causes. From the press and other sources now 
so cheaply brought to the homes of American working men, voters 
have learned that they alone are the producers of all the wealth; 
and furthermore, have become fully informed of the methods that 
have been devised through legislative acts that mainly cause its 
unequal distribution. They realize that the vast fortunes of men 
now controlling business interests have been accumulated in the last 
thirty years. Now they witness the efforts being made by this aris- 
tocratic element of the two great political parties joining hands to 
make the present dominancy of wealth perpetual, tending to still 
further depress labor and control the laborer. 

The Unpatriotic Gold Party Union. 
In proof of this statement, reference need only be made to the 
course of the gold standard Democrats and Republicans in the 
campaign of 1896. To consummate their union both yielded long 
cherished party dogmas. Leading Republican speakers were ad- 
vised not to press a tariff for protection. Orders to this effect came 
from headquarters and were obeyed. If protection was made prom- 
inent, anti-protection Democrats might take offense and the recently 
formed union, hanging on a very slender thread, was liable to be 
inopportunely broken. To kindly reciprocate, the Democratic ora- 
tors, Lehman, Irish, Wilson, et al., theretofore so voluble and de- 
clamatory against protection, were silent, hoping thus to preserve 



24 •• THE SILVER SIDE— Campaign Text-Book. 

the golden union intact. Since the election and the assembling of 
congress the golden link seems to have been broken. Time will 
tell of the final result. 

Mr. Bryan was defeated as shown by the face of the returns. 
Unquestionably the bolting gold Democrats, allies of the Repub- 
licans, added to the strength of the party the force necessary to 
accomplish that result. In view of the true condition of the country 
made manifest by subsequent events, and the fact that Mr. Bryan, 
the defeated, since the election has been more generally honored 
by the people than the victorious gold candidate; his supporters 
are reconciled for the time to disappointment, confident that in 
view of all the circumstances the party had been strengthened by 
the splendid manner in which the campaign was conducted and 
Mr. Bryan more popular than ever before, assuring victory in 1900. 

False Prophets and Promises, 
The gold party prophesied that the defeat of Mr. Bryan would 
end the "silver craze," bury it beyond hope of resurrection; and 
further, the day that Mr. McKinley's election became known, confi- 
dence would be restored, money would come out of its hiding places, 
new manufactories would be started, the unemployed find employ- 
ment, and the prosperity of the country be assured. Such were the 
pre-election promises. These boastings all proved false. In the 
first sixty days following the election, there were more bank and 
business failures than ever before in the same length of time. Wages 
were reduced, workmen in many places discharged, and instead of 
an increase of manufactories many were closed. Statistics show 
that more wages were cut in the two months immediately following 
the election than in the same time in any past year. 

Campaign of \ 900 — Prospectively. 
Spontaneous gatherings that have occurred in many states, com- 
posed of the friends of bimetallism, Democrats, Populists and Silver 
Republicans, make assurance doubly sure that no backward steps 
are to be taken. The fight for silver is to be continued, its restora- 
tion sure to come and that, too, without waiting for the consent of 
any other nation. Realizing that the fulfillment of these bright 
anticipations can only be made sure by earnest work, unity of effort 
and the hearty co-operation of the forces so nearly successful in 
1896, the organization of clubs in every state is advised. The power 
of the opposition, however, must not be underestimated. Combina- 
tions, trusts, railroad, banking and all other monopolies will be 
arrayed against the Silver party. The Democratic party's absolutely 
refusing to recognize the bolting Democrats of 1896 will probably 
cause many of that party to unite permanently with the Republicans, 



THE PARTY ISSUES OF 1897-98-99 AND 1900. 25 

their love of gold, when put in the balance, outweighing their hatred 
of protection. This is the situation of the two armies as they stand 
confronting each other at the opening of the four years' campaign. 

Advocates of bimetallism see nothing to discourage, but every- 
thing in the present situation promising- victory for the people. 
One of their most effective arguments will be the ante-election 
promises made by the allied forces of opponents, and their utter non- 
fulfillment. Thousands of honest Republicans and doubtless many 
Democrats, because of the failure of these promises, will be found 
hereafter with the party of the people. McKinley was loudly her- 
alded as the "Advance Agent of Prosperity," and encouragement 
that during his administration, international bimetallism would be 
accomplished. Relying with considerable confidence upon this 
promise, known by its authors to be impossible of fulfillment, many 
Republicans favorable to the use of silver on terms of equality with 
gold voted with their party, but will not again. Not a few Demo- 
crats led out of their party by the leaders they had followed for 
years, finding themselves deceived, will return to their first love, the 
Democratic party, and unite with the great mass of the people in 
their holy crusade against the money power fighting for the gold 
standard. 

In "The Silver Side," the cause of the evils that have come to 
the nation and the people, and the remedies, will be discussed by 
many able men; some have been referred to in this prefatory chap- 
ter. The second battle between the money power and the people 
is on. That it will result in victory for the right we have abiding 
confidence. This "Bimetallic Campaign Text-Book," is purposed 
to be an efficient helper throughout the contest. Its chapters of 
silver axioms and aphorisms will be interesting, and in them will 
be found texts appropriate for illustration, convenient for reference 
by speakers and in discussions. 

The Young Politician 
Will be pleased with the engraved frontispiece giving correct en- 
graved portraits of the presidents from Washington to McKinley 
and the time in our country's history when they served. One 
chapter, not exceeding fifteen pages in all, will be devoted to prom- 
inent occurrences during their administrations. Only three are 
noted in which the events have special relation to the present, Wash- 
ington, Monroe and Lincoln. Incidents in the lives of others may 
be referred to. To young men just entering the arena of political 
life the purpose is to make this text-book not only interesting and 
instructive but useful as a hand-book for reference. The recent 
political campaign presents evidence of the necessity for every voter 
to study the political questions of the day. An educated people is 



26 THE SILVER SIDE— Campaign Text-Book. 

necessary for the perpetuation of government, especially a republic. 
Cuba today is suffering from a long and devastating war caused by 
ignorance and corresponding tyranny. With their increasing 
knowledge the Cubans have learned their rights and are determined 
to maintain them. The amicable settlement of the Venezuelan affair 
goes far to show that with increasing intelligence the war spirit is 
declining and a higher value is placed on human life. 

It cannot be denied that because of the misdoings of pseudo poli- 
ticians and the disrepute into which legislatures — and congress, too, 
we are sorry to say — of late years have fallen, the word politician has 
with some become disreputable; and many, too many, ignore their 
duty as citizens. A young man twenty-six years old, native born, 
recently in the hearing of the writer, rather boastingly said: "I 
have never voted." Asked for the reason he replied: "Politicians 
do nothing but quarrel. I cannot believe what I read in the party 
papers; they plainly and continuously contradict each other; so I 
keep out of the muss and attend to my own business." This young 
man had some reason to speak as he did, but not sufficient to excuse 
a young American citizen from the discharge of his duty as one on 
whom rests the responsibility of maintaining a government won for 
him at a great cost of blood and treasure. 

Is the Campaign of \ 900 to be Decisive? 

The author cannot banish the thought that the presidential and 
congressional campaign of 1900, to a large extent, is to be decisive 
in the contest now pending between the money power and the 
people, either for the uplifting of the middle class, the working 
men and women, or their further degradation; for the weal or woe 
of the republic, and whether men or money shall control the 
government. Should there be division and contention among the 
liberal organizations, aspirations of individuals for place and power, 
instead of self sacrifice and devotion to the principles demanding 
liberty, fraternity and equality, the result may prove, indeed, a 
Waterloo defeat to the party of the people of peace and progress. 

On the other hand, if the unity that was manifest in the cam- 
paign of 1896, so nearly successful, can be continued, the result 
will be a permanent victory over the plutocratic-aristocratic forces 
combined, evidently desiring to make void the great declaration, 
"All just governments derive their power from the consent of 
the governed," and, as in the election of 1896, permit millions of 
money to turn the balance against the demands for relief of the 
suffering millions of unemployed. Citizens, consider, and so act, 
that the result in 1900 may indeed prove to be for the silver-labor 
army a second Appomattox. 

Further, the author rejoices that in manhood's prime he was 



THE PARTY ISSUES OF 1897-98-99 AND 1900. 27 

permitted to participate in the conflict against armed treason, and 
although a deep sufferer in common with thousands of his fellow 
citizens, finally came off victorious. He is exceedingly glad, that 
having survived the war of 1 861-5, and the intervening years, now 
in advanced age he is permitted to be a participant in a war no 
less important to the future, no less relentless; the wresting from 
the money power the control of the government, and its restoration 
to the hands of the people. 

The war of the present is bloodless, it is true, but all along 
its devastating pathway, as the past few months have terribly demon- 
strated, are heard the wails of the suffering, the groans of the dying 
by starvation, and a thousand forms of deprivation; better, indeed, 
it would have been that the slave-holding power, involving the 
freedom of a few millions of blacks, should have succeeded, than 
to permit the plutocratic armies now threatening the subversion of 
the government of the great republic to become successful in the 
enslavement to capital of millions of citizens, white as well as black; 
and more, far above all, possibly blasting the last hope of the 
world of humanity, for many centuries cherishing the thought, that 
here on this western continent, freedom had finally found a resting 
place for man. 

No! No! It must not be! Man's capability of self-govern- 
ment has stood the test, the trials of more than a hundred years. 
With confidence in man's capacity for self-government, abound- 
ing trust in the God of the founders of the government of the 
people, and the immortal words of Jefferson in the great declaration 
sent out to enlighten the world, we adopt the beautiful language 
of America's favorite poet : 

"Sail on, sail on, oh ship of state! 
Sail on, oh Union, strong and great; 

Humanity, with all its fears, 

With all its hopes of future years, 
Is hanging breathless on thy fate! 

"We know what master laid thy keel, 
What workman wrought thy ribs of steel, 
Who made each mast and sail and rope, 
What anvils rang, what hammers beat, 
In what a forge and what a heat 
Were shaped the anchors of thy hope! 

"Fear not each sudden sound and shock, 
'Tis of the wave and not the rock, 
Tis but the flapping of the sail, 



28 THE SILVER SIDE— Campaign Text-Book. 

And not a rent made by the gale. 
In spite of rock and tempest's roar, 
In spite of false lights on the shore, 
Sail on, nor fear to breast the sea, 
Our hearts, our hopes are all with thee; 

Our hearts, our hopes, our prayers, our tears, 

Our faith triumphant o'er our fears, 
Are all with the, are all with thee." 

That the "Silver Side Text-Book" may go forth into the 
great open field before it and therein prove a useful instrumen- 
tality for good, become an efficient helper in restoring the country 
to prosperity, is the ardent wish of each and all of its able corps of 
contributors. To the many who have thus favored the author, his 
sincere thanks are cordially and respectfully tendered. 





REV. H. W. THOMAS, LL. D., a native of Virginia, born April 
29, 1832. Worked on a rami until his eighteenth year. Studied under 
private teachers, and at Berlin, Pa. Joined Pittsburg M. E. Conference 
in 1852. Joined the Iowa Conference in 1855, and transferred to the 
R. R. Conference, Illinois, in 1856. Stationed in Chicago in 1859. Since 
1880 has been pastor of the People's Church, Chicago. 



Oh- 



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CHAPTER II. 

SHALL THE REPUBLIC BE RULED BY MEN OR MONEY? 

Of Government in General. 

BY REV. DR. H. W. THOMAS. 

Some form of government is a necessity ; without it, civilization 
is not possible. The uncivilized peoples have their traditional cus- 
toms and social forms; when nomadic or wandering tribes become 
settled, and with local habitations arise ownership of property and 
divisions of labor, there must be laws by which these rights and 
relationships can be determined and enforced. 

The earlier forms of government were tribal, paternal; and 
when in tribal wars, the weaker were overcome by the stronger, 
the heads of the conquering tribes became kings over the larger 
aggregations. In this way despotisms arose; and with these lines 
of royal descent, or perpetuation through inheritance. 

In these forms of ultra monarchical rule, the power of the king 
was supreme. Among millions, only one mind was free to will and 
do; all the others were subjects; had to obey the one, and his 
authority was arbitrary; he could do as he willed and no one had the 
right to question, much less to resist. The social order rested upon, 
depended upon force; hence the king always had an army; govern- 
ment was military, rather than civil; and all this may have been 
necessary, best, in the early ages of civilization. 

But in these despotic forms of government there was, had to be, 
limited distributions of authority; the will of the one could become 
effective only as that will was entrusted to others, to generals in 
the army and their subordinates, to heads of departments of in- 
dustry and business, and to rulers over provinces. It is true the 
king could make or unmake them at will, but he had to have them; 
and in this way the powers of government were enlarged, though 
subject to the one mind that was arbitrarily free. 

Evolution of the Ethical Sense. 
Surrounded by an army, the owner of a country and a people, 
the king possessed absolute, arbitrary authority, he could command 
men to wall a city, to build a temple or a tomb, to fight his battles, 

29 



30 THE SILVER SIDE— Campaign Text-Book. 

and they had to obey; he could levy contributions that had to be 
paid; he could send to homes and take away the fairest daughters, 
and no one dared oppose ; he held the right of life or death over any 
one and every one of the millions. 

But this arbitrary rule could not always last; the sense of right 
began to awaken; the oppressed millions began to ask, by what right 
the one ruled over the many? And with such questions arose, 
dimly at first, some conceptions of right as a principle; and with 
this came the thought that the principle was universal, that it bound 
the king, as well as his subjects, and hence, that there was and could 
be no such thing as arbitrary right, that right is a something above 
the will of man ; that to will a wrong thing does not, cannot, make it 
right; that right as a principle is eternal; and, at last, binds God as 
well as man; that God is principle, right, justice; "the principle of 
principles;" that a thing is not right because God wills it, but that he 
wills it, commands it, because it is right. 

The higher thinking could not, of course, come all at once; it 
had to be an evolution, a growth; but the germ was in man, because 
of his "heredity from God"; and once quickened, called into action, 
it became, had to become, a new power in the world. It applied to 
rulers, as well as to subjects; at last it must govern God as well as 
man. And with this slowly came the thought that the greater the 
authority, the higher the position and trust, the larger the responsi- 
bility; the greater the wrong, if done by one exalted to place and 
power. 

Philosophically, it is to the nature of this ethical sense in man and 
its corelations in God, that we must look for the source of the rights 
of man, as man. Historically, the cause of liberty, both civil and 
religious, has grown with the growth of this inner life. The outer 
life, or objectivized forms of government, has been the expression 
of the subjective; the thought, the feeling of liberty, has sought 
to create its corresponding body in constitutional monarchies, and 
at last in democracies. 

The Long Struggle. 

Here has been the long, hard world-battle of liberty. Naturally, 
the families and forces enthroned have sought to hold their places ; 
and, having the governments and the armies on their side, the 
struggle for the rights of man has been against great odds. But 
the conflict has been inevitable, irresistible; for the thought, the 
sentiment of liberty, of right, once in the minds and hearts of men, 
can never be put out, and for the reason that it finds its corelations in 
the Infinite; it is a great faith, courage, hope, that appeals to God, 
to the universal justice. And added to this is the fact of wrongs, 
oppressions, that have to be endured, and against which the noblest 
manhood of the ages has revolted. It is not our purpose, nor is it 



SHALL THE REPUBLIC BE RULED BY MEN OR MONEY? 31 

possible here, to trace the scenes of this long battle for the rights 
of man; this battle of the democracy of government and religion 
against the claims of royalty and ecclesiasticism. The "Holy 
Roman Empire" sought to place all Europe under one supreme 
power; to have over all one king, one pope. Against this the 
liberty loving German states protested; the Reformation of the 
sixteenth century, and the long civil and religious wars followed; 
the noble Hollanders, the Dutch republic, fought the battles of 
liberty for a world; the "pilgrims" fled to this new land; the revo- 
lutions of the eighteenth century followed; and as a result of all, the 
governments of Europe have largely been modified, have become 
constitutional monarchies, and over here has been lifted up the 
"Flag of the Free." 

The Present Conditions, 

Limiting our vision now more particularly to our own country; 
the fact should be accentuated that in the Declaration of Independ- 
ence the appeal for the rights of man was based upon a new and 
higher claim. It was asked, not as a concession from royalty, or a 
favor, but as a right, the right of man, as man; and the appeal was 
made to this sense of right, of justice in the growing consciousness 
of a world; to the universal right, to the God of right; nor was 
it made in vain. And this deep sense of right, of justice, of the 
brotherhood of right, has been the mighty, the noble, patriotic 
impulse of the people of this land. It not only fought the long 
battles of the Revolution, but in our own day rose up to fight the 
battles for the Union, and against slavery, and in this hard contest 
of arms was triumphant. 

But somehow, the work of this strange life and world seems 
never to be finished. When one task is completed, another ap- 
pears; when one danger is past, another arises; it seems to be the 
destiny of progress that one stress-point after another has to be 
overcome; and the stress, the strain of power, seems to be the 
only condition under which the higher gains and growths are pos- 
sible. 

And so, we had hardly passed beyond the dangers of the 
Union, and the blight and danger of slavery, when another danger 
arose; another form of threatened slavery. It was the danger, the 
slavery of money, of wealth. Not the chains of iron that bound the 
dark race; but the chains of gold that threatened, and more than 
ever threatens now, to bind in a worse slavery the feet and hands, 
the brains and heart of the white man, as well as the black man. 

Great leaders, patriots, are often inspired; have the gift of pre- 
science, of foreseeing events. Washington, in his "Farewell Ad- 
dress" to his country, foresaw the dangers of slavery, and the 
troubles that would arise, and that we of this generation had to 



32 THE SILVER SIDE— Campaign Text-Book. 

face and fight out on fields of blood. In the midst of that great 
struggle, and as the hour of victory drew near, the immortal Lincoln 
looked ahead and foresaw another and greater danger arising in the 
power and slavery of money. 

Lincoln's Prophecy. 

Near the close of the war, in reply to a letter from a friend in 
Illinois, President Lincoln said : 

Yes, we may all congratulate ourselves that this cruel war is nearing 
its close. It has cost a vast amount of treasure and blood. The best 
blood of the flower of American youth has been freely offered upon our 
country's altar that the nation might live. It has been indeed a trying hour 
for the republic; but I see in the near future a crisis approaching that 
unnerves me and causes me to tremble for the safety of my country. 

As a result of the war, corporations have been enthroned and an era 
of corruption in high places will follow, and the money power of the 
country will endeavor to prolong its reign by working upon the prejudices 
of the people until all wealth is aggregated in a few hands, and the re- 
public is destroyed. I feel at this moment more anxiety for the safety 
of my country than ever before, even in the midst of war. God grant that 
my suspicions may prove groundless. 

Martyred President's Prophecy Fulfilled. 

That which Lincoln foresaw and feared as a near and dreaded 
danger has come to pass; the centralization of wealth and power 
has steadily gone forward until both are now largely in the hands 
of the few, and not of the many. I can well remember when there 
were only a very few millionaires in the whole country; as far back 
as i860 there were but few large fortunes, but in 1890 "ten per 
cent of the people owned as much wealth as the other ninety per 
cent." 

This strange and threatening state of affairs has been made 
possible, not alone through the increase of power through ma- 
chinery, but by the legislation that looked more to the interests of 
property, than to the welfare of the people; by the legislation for 
money rather than for men. 

The late Judge Lyman Trumbull, one of the ablest jurists and 
statesmen and noblest patriots of this or any other age or coun- 
try, felt very deeply on this subject; like Lincoln, Judge Trumbull 
foresaw the danger of this rapid accumulation of wealth by the 
few, and near the close of his long, pure and noble life, speaking 
of the growth of this money power in our land, he said: 

It is chiefly the laws of property which have enabled the few 
to accumulate vast wealth, while the masses live in poverty. For 
many generations our laws have been framed with a view to the 



SHALL THE REPUBLIC BE RULED BY MEN OR MONEY? 33 

claims of property, rather than the rights of man. For ages the 
money power has controlled legislation the world over, and, I 
am sorry to say, has exercised a controlling influence in our own 
land for many years. 

In Great Britain, whence we have derived most of our laws of 
property, the policy is to build up great estates. Hence, by the 
laws of that country, land descends to the eldest son, to the exclu- 
sion of the other children. The effect of this is to limit the 
ownership of land to a few persons. Thirty-four persons in that 
country own six million two hundred eleven thousand acres of land. 
The Duke of Sutherland is said to own one million three hundred 
fifty-eight thousand acres, and a few other dukes and earls own 
a great proportion of the land of the United Kingdom. 

In this country we have abolished the laws of primogeniture, 
by which the eldest son inherited the landed estate of his ancestor, 
but here vast estates are being rapidly accumulated in few hands, 
and this is especially true during and since the war of the Rebellion. 
In i860 there were few millionaires and few large fortunes in 
this country, but since that a rich class has sprung up, so that 
in 1890, according to reliable statistics, ten per cent, of the people 
owned as much wealth as the other ninety per cent. 

How the Corporations Accumulated Their Vast Wealth. 

The richest corporations and persons on earth are probably in 
the United States. How have they accumulated their vast fortunes? 
Surely not by their own industry and thrift, but by the aid of stat- 
utes regulating the rights of property, generally statutes provid- 
ing for the transmission of property by descent or by will, or the 
creation of monopolies. It is only by virtue of statutory law that 
man is permitted to make disposition of his property by will, and 
it is only by virtue of statutory law that one person is permitted 
to inherit property from another, and it is by virtue of statute 
law that great corporate monopolies have been built up. No man 
has a natural right to dispose of property after death, nor has one 
person a natural right to inherit property from another. As Black- 
stone says: 'There is no foundation in nature or in natural law 
why the son should have the right to exclude his fellow creatures 
from a determinate spot of land because his father had done so 
before him, or why the occupier of a particular field or of a 
jewel when lying on his death-bed, and no longer able to main- 
tain possession, should be able to tell the rest of the world which 
of them should enjoy it after him." 

The money power has governed legislation in all civilized coun- 
tries for generations. It matters not what party is in power in 
the national or state governments of our own country, the money 



34 THE SILVER SIDE— Campaign Text-Book. 

power has exercised a controlling influence in many instances 
in the shaping and administration of our laws. If the accumula- 
tion of vast fortunes goes on another generation with the same 
accelerated rapidity as during the present, the wealth of this coun- 
try will soon be consolidated in the hands of a few corporations 
and individuals to as great an extent as the landed interests of 
Great Britain now are. 

The Remedy. 

What is the remedy for this state of things, which, if permitted 
to continue, will make the masses of the people dependent upon 
the generosity of the few for means to live? So far as con- 
cerns corporations of a public or quasi public character — and none 
other should exist — the remedy is simple. They are completely 
under the control of the legislatures, whence they derive all their 
powers. It is entirely competent for a legislature to provide the 
manner in which the business of a corporation shall be con- 
ducted. Under the powers inherent in every sovereignty, govern- 
ment may regulate the conduct of its citizens toward each other, 
and, when necessary for the public good, the manner in which each 
shall use his own property. I do not undertake to specify all the 
provisions which it would be necessary to incorporate in a charter, 
to secure labor its just reward. All I attempt is to indicate the 
power which the legislature has in creating and controlling cor- 
porations. 

Formerly, corporations having special privileges were created 
by special acts, which the courts construed to be contracts be- 
tween the granting power and the corporators, which once granted 
could not be repealed or varied by the granting power. This grant- 
ing of charters to favored individuals, conferring upon them 
privileges not possessed by the general public, became obnoxious 
to public sentiment, and, as a consequence, general laws have 
been passed in many states, under which any three persons may 
become incorporated for any private purpose. This has become 
a worse evil than the old system of granting special charters. 
Under the general laws enacted in the state of Illinois twenty years 
ago, I am informed, twenty-seven thousand two hundred corpora- 
tions have been created. Seventy-eight per cent, of the great for- 
tunes of the United States are said to be derived from permanent 
monopoly privileges which ought never to have been granted. 

Neither strikes of the laboring classes, which array against 
them the money power and the governmental power which it con- 
trols, nor the governmental control of the great railroads and 
other corporations will remove the existing conflict between labor 
and capital, which has its foundations in unjust laws, enabling the 
few to accumulate vast estates and live in luxurious ease, while 



SHALL THE REPUBLIC BE RULED BY MEN OR MONEY ? 35 

the great masses are doomed to incessant toil, penury and want. 
What is needed is the removal of the cause which permits the 
accumulation of the wealth of the country in few hands, and this 
can only be peaceably brought about by a change of the laws of 
property. 

The Feudal Age of Money. 

In the centuries after the fall of the Roman Empire, when the 
kings could not make government effective; there arose the rule of 
the feudal lords, who built castles upon the most inaccessible heights 
along the Rhine and other rivers, and protected the serfs who toiled 
for them in the valleys below, and in this way came to practically 
own both the lands and the people. 

This, in the United States, is the feudal age of money; the rule of 
right, of justice, not being yet able to assert its authority; the feudal 
lords have rushed into the fields, and by taking advantage of steam 
and electricity have very largely taken possession of the business 
of the country; they control its vast industries; and hence in a 
large sense control, and almost own the people; and, of course, 
all this is undemocratic; it is plutocratic; it means that our country 
is coming to be governed by wealth; and as wealth is in the hands 
of the few, it means not only a plutocracy, but an oligarchy ; or gov- 
ernment by the few. 

The Commonwealth says editorially: 

The process by which a republic is transformed into a despotism 
is by a few absorbing the property of the many. That process is 
going on in this country with fatal rapidity. In i860 the total 
amount of the wealth of the country was $16,000,000,000; of this 
the workers got 43J per cent, and capital 56J per cent. In 1890 
the total wealth had increased to $61,000,000,000, of which the 
workers' share was 17 per cent, and the capitalists' 83 per cent. 

It is not pleasant to dwell upon the dark side of things, nor is 
it wise to refuse to look upon things as they are; and we should 
not be unwilling to face the facts that endanger the liberties of the 
millions in this once free land. I say once free; but if we are 
to confess the facts as they are no longer free, no longer in the 
largest and best sense ruled by the people. We are not only in 
danger of being ruled by money; to an alarming extent, we are al- 
ready ruled by it. 

It is hardly too much to say, that almost without exception the 
city councils of this country can be bought ; have been bought ; that 
the municipal governments of the land are controlled by money, 
and in many ways practically owned by city railway, gas, and other 
corporations. Nor is it too much to say that, as a rule, legislatures 
can be bought; have been bought; and that the national Congress 
can be bought; has been bought. It is not meant to say that there 



36 THE SILVER SIDE— Campaign Text-Book. 

are not in the legislative bodies honorable men, men above price; 
for there are many such ; nor meant that the buying is open, as in 
boards of trade; so much offered for votes to carry certain measures. 

How it is Accomplished. 

It is not done in that open way; but by lobbies, by indirection 
and circumvention. Pliable men are approached, cautiously worked 
with, given to understand that certain measures are so desirable 
and valuable that corporations can afford to in some way make it 
an object worth working for, and deserving of reward by those 
who work and vote for them ; and in this way, as these purchasable 
persons come in a general way to be secretly known to each other, 
rings are formed, and these men work together to secure privileges 
for the few, at the expense of the many. Boodlers they are called; 
and is it not a fact that they are known to exist in city councils 
and legislatures? And is it not known, or at least understood, that 
these are the tools of corporations and trusts, and are rewarded for 
their work? 

And the corporations and trusts that desire and depend and 
fatten upon privileges, rather than rights, look to the make up of the 
legislative bodies from which they expect these favors; they work 
for the nomination and election of those whom they control. They 
get them into city councils and legislatures. It is brought about 
that a bright young attorney in some country town is nominated 
for Congress; is elected; and in time he may be approached by a few 
gentlemen who compliment him upon his successful career, and 
especially upon his ability as a constitutional lawyer. They have 
a matter upon which they would like his opinion; do not offer 
to pay for it, but for his time and labor and great ability will gladly 
make him a present of say, $5,000. The money is an object; he ex- 
amines the subject, and, naturally, reports as favorably as he can. 
Months after, it may be, a measure is proposed in Congress that 
involves this very question ; naturally the young lawyer feels under 
some obligation to support it ; and others also have given opinions, 
and have been rewarded for them; and this bill becomes a law; the 
few gain privileges at the expense of the many; and so wisely, deli- 
cately had it all been managed, that these Congressmen hardly 
know that they have been bought. But the money power has 
gained its point. 

Legalized "Wrong. 

By corrupting legislation, the money powers have succeeded in 
so legalizing unjust or discriminating measures and methods, that 
the very laws that are intended to protect the people in their rights 
may be used, and are used, to protect their oppressors. Nor is this 
all. It is not impossible, and may be even feared, that consti- 



SHALL THE REPUBLIC BE RULED BY MEN OR MONEY ? 37 

tutions have been so shaped as to possibly favor the privileges of 
the few, rather than the rights of the many. Upon this delicate and 
difficult question, Prof. Ely says: 

"We, in our distrust of legislative bodies, have enlarged our con- 
stitutions unduly, and thus have restricted more and more the 
sphere of the legislature. At the same time, as our constitutions 
can be changed with difficulty, we have placed an increasing num- 
ber of things entirely beyond our control, and have thus weakened 
ourselves in the conflict with powerful private interests not similarly 
hampered. But this is not all. The result of the excessive develop- 
ment of constitutionalism has been to enlarge unduly the functions 
of the judiciary; and this has been enlarged by the fact that our 
judges have so generally been honest, upright, and able men. But 
it is not the function of the judges to represent the progressive ele- 
ment in society. They are rather a restraining force, and it is un- 
fortunate for society to entrust to judges what are, in reality, legis- 
lative functions. The provisions of constitutions are more or less 
general, and it devolves upon the judges to say what they mean 
in concrete cases. The result is that the popular will is often thwart- 
ed. People, when voting upon a constitution, do not understand 
the full purport of its provisions, and some of the provisions may 
have been inserted at the suggestion of special but powerful private 
interests, whose skilled attorneys have seen at once their true 
import. If the masses wish an effective control over government, 
they must be able to decide upon concrete cases as they arrive. 
Government in accordance with general provisions, to be interpreted 
by a few selected individuals, is unfortunate for the development 
of popular rights, and a protection of public interests." Prof. Rich- 
ard T. Ely, in "Socialism and Social Reform," page 345. 

The Supreme Court. 

The government of the United States is peculiar, unique, in this; 
that it has a power superior to congress. When the parliament of 
England passes a law, the highest courts can only interpret and en- 
force its provisions; but in this country, the supreme court can 
pass upon and pronounce as unconstitutional a law passed by the 
national congress; and the supreme courts can also pass upon the 
constitutionality of state laws. And somehow it has been, that 
many of these decisions, all the way from the Dred Scott case, to 
the late income tax case, have been in favor of the wealthy and rul- 
ing classes. The legislature of Illinois passed a labor law two years 
ago ; a law shaped after the plan of the English law, and looking to 
the protection of women and children; but the supreme court of 
the state pronounced it unconstitutional. This is not to say that 
these decisions were not legally correct ; but if so, then, that in so far, 



38 THE SILVER SIDE— Campaign Text-Book. 

the constitutions are faulty and need amending; and even the de- 
cisions of the supreme court should not be above criticism. As 
a loyal people we should, and do obey them ; but they are not neces- 
sarily infallible, nor irreversible. 

To resist or rebel against the laws of our country is anarchy; 
to reform and improve them is the wisest, noblest loyalty. Nor will 
the cry of "anarchists" quiet the deep discontent and distrust of 
many minds. In the great world-order of the good, nothing is 
settled till it is settled right. 

The Twentieth Century, of December 24, 1896, says editorially 
upon this general subject: 

The organized labor of the country is fully alive to the menace to its 
liberties embodied in the federal judiciary. At the convention of the 
Federation of Labor on Friday, a resolution was introduced reciting the 
fact that the nullification of laws duly enacted by the representatives of the 
people is not in accordance with the spirit of popular government, and that, 
consequently, the federal judiciary should be deprived of their despotic 
power. * * * There seemed to be a unanimous feeling that the constitu- 
tions of the national and state governments are antagonistic to labor, 
which is certainly true. In England, no judge has the power to de- 
clare an act of parliament null and void. In fact, no country in the 
world permits its duly enacted laws to be pronounced null and void by 
judges. This judicial despotism of ours is a very great anomaly, and 
ought to have been done away with long ago. A few years ago congress 
passed a law against the practice of granting sums of money to the Eng- 
lish government for shipping allowances. The British premier at once 
caused suits to be brought in the federal courts against the constitutionality 
of the law and won the case. The labor element is at last aroused to 
a serious peril. 

Of all injustice, that which is possible under the forms of law, 
and is protected by the laws, is hardest to reach and correct. And 
when to this is added the fact that the judiciary is sometimes 
financially interested in the combinations against which complaints 
are made, the difficulty is increased. Such a case has recently come 
to light in the efforts of the national government to deal with the 
railroads of New York; and here again, the editorial of the same 
number of the Twentieth Century is expressive. It says: 

An Amazing Scandal I 
Certain more or less serious efforts were lately made by a few public 
officials to dissolve the railway combination known as the Joint Traffic 
Association. These efforts have come to nothing, and the senate has ap- 
pointed a committee to investigate the matter. This committee put Wallace 
Macfarlane, a district attorney for the government in this state, on the 
witness stand. After much asking and answering of questions, Mr. Mac- 



SHALL THE REPUBLIC BE RULED BY MEN OR MONEY? 39 

farlane was compelled to fix the responsibility for failure to break up the 
railway combine, and he fixed it upon the federal judiciary. Not only 
do they decide against the people and in favor of the railway 
monopoly, but it even appears that Mr. Macfarlane could not risk 
his case before most of the federal judges, because they are stock- 
holders in the very railway monopoly which the government is attempting 
to destroy. 

This is a very amazing scandal. Accustomed as we are to the cor- 
ruption of the federal judiciary, it is still a source of astonishment that 
the most dangerous monopoly in the land, with perhaps one exception, 
and the monopoly against which congress has time and again enacted laws 
which are broken down in the courts, should be the very one which cannot be 
proceeded against before the members of the federal judiciary for the 
reason that they are stockholders in it. The evidence on this point is 
very clear and convincing. Mr. Macfarlane is not prejudiced against the 
federal judiciary, and is in favor with the Cleveland administration. Senator 
Cullom and Senator Chandler both spoke of the unsatisfactory results 
of the prosecution before the federal judiciary, whereupon Mr. Macfarlane 
made his astonishing revelation, adding that of the eight judges, circuit and 
district, in the jurisdiction where the suit was brought against the monopoly, 
only one was not a stockholder in it. 

As we have observed, this is a very startling state of things. There 
is no way of breaking down the railroad monopoly but through the 
judiciary, and the judiciary are financially interested in the monopoly. It 
appears that every law directed against the railroads must be submitted to 
their stockholders, the federal judiciary. This fact may explain the 
curious prosperity of railway trusts in spite of the many laws aimed against 
them. It is very desirable that the trail opened by Mr. Macfarlane be 
followed up. We should learn how many federal judges are railroad stock- 
holders, how they manage to afford themselves such investments, why they 
feel competent to decide railroad cases when they have a pecuniary in- 
terest in the result, and other similar facts. Nor need we be surprised 
any longer at the injunctions issued against workingmen and labor unions 
in view of the investments of the federal judiciary in railroad corporations. 

It is not putting the case too strongly to say that of all the scandals 
which today disgrace the corrupted federal judiciary, this fresh one is the 
most flagrant and astounding. Here we have a combination declared by 
our laws to be criminal, a combination formed in direct violation of the 
penal statutes, and yet an officer of the government confesses that he cannot 
proceed against it because the federal judiciary are implicated in the 
crime to be tried before them! Many people cannot understand why our 
federal judiciary should be so corrupt, and they hesitate to believe many 
of the facts alleged against them. It is argued that the federal judiciary 
are in office for life at a fair salary, and that they have no temptation to 
be corrupt. Such reasoning is based upon only partial consideration of 



40 THE SILVER SIDE— Campaign Text-Book. 

the facts in the case. If you give a man unlimited riches and assure him 
that he is under no responsibility whatever for the use to which he puts 
them, he will insensibly fall into evil. It is the sense of responsibility that 
is our best guide. The fact is the same when a man is given unlimited 
power without responsibility. The federal judiciary are responsible to 
nobody whatever. They never resign and rarely die. The president cannot 
interfere with them. Congress will not. The president and congress com- 
bined have not as much power as the humblest federal judge, because the 
judge can pronounce their acts null and void. He can issue a writ making 
that a crime which was no crime before. He has the power to send any 
citizen to jail for life without trial, whether the citizen has violated the 
law or not. If you wish to give up your job on a railroad and a federal 
judge orders you to remain at work, and you refuse to remain at work, 
you will go to jail for a year, and will get no trial either. 

If these things be so, it follows that enormous powers are lodged 
in the federal judiciary. The evil might not be so great if the federal 
judiciary were held to some responsibility for their acts. But they are 
not. There is no power anywhere that dare interfere with the federal 
judiciary. The judges are not responsible to the people. Their salaries 
cannot be reduced. They can pronounce any law null and void, and they 
themselves define the limits of their own powers. Under such conditions, 
the saints would become corrupt. 

Trusts and Syndicates. 

When two men agree to enlarge their business by forming a 
partnership, there should be no complaint; nor is it wrong for a 
number of business men to form a company; nor wrong to become 
corporations. The large industries of our new age can be carried 
on in no other way; they are too great for the individual; and 
if justly managed, are a public good. But when a number of 
these corporations combine in a trust or syndicate, and become a 
monopoly that crushes out competition, and levies tax upon the 
people at will; it is a very great wrong. And when these unlaw- 
ful combinations can and do defy the laws, and can and do corrupt 
legislation, it is an evil, a danger that threatens the very exist- 
ence of our free institutions. 

It is hardly possible to estimate the power of money; nor is it 
easy to trace out all the sinuous ways in which it seeks to con- 
trol the people. It is not only a near appeal, a power of fear held 
over the laborer and the dependent poor, but it is brought to 
bear upon the institutionalized life of the country. More than is 
generally known or suspected, that power controls the policy of the 
denominational colleges of this land, and especially in the field of 
political economy. It is the effort and the pride of these to have 
large endowments; for these they naturally look to the men of 



SHALL THE REPUBLIC BE RULED BY MEN OR MONEY ? 41 

large wealth; but many, most of these wealthy men have become 
such 1 through the advantages of some of these large combinations 
of wealth, and their secured privileges. 

The first Napoleon did not allow political economy taught; he 
was the state, and permitted no theories of social justice to stand 
in the way of plans of empire. The money power of our time 
does not forbid the teaching, but seeks to control it; says what 
may and may not be taught. The trustees and presidents of col- 
leges and universities dare not offend the money power; to this 
they look for money, for endowments; and the men who give 
money to endow institutions are careful that nothing be taught 
that can conflict with their forms of business. The whole great 
field of thought, of social, political and economic study and truth, 
dare not be opened; but only such views and authors as are in 
accord with the money power. 

And this is one of the worst and most dangerous evils of 
this dreaded power of wealth. It is worse than the old slavery 
of the body that held the dark race; it assaults the intellect; 
seeks to enslave the minds of the rising generations, to corrupt 
these minds by filling them with false theories of public justice and 
the rights of man. Claiming to be Christian, as the denominational 
institutions do, they are no longer free; cannot trust the truth to 
make men free; but are themselves dependent upon and slaves to 
the rich. We have all along expected, and accepted the fact, that 
in questions of theology these institutions should be denomina- 
tional; but that money should dictate and control the sociology of 
our land, is a new and far-reaching danger of our social order. 

I should be glad to be mistaken, but somehow cannot put away 
the thought and fear that there is a deeply laid and persistent 
plan upon the part of the money power in this land to make 
it a government of the rich, a plutocracy, and hence an oligarchy, 
or a government of the few. I fear that there is an effort 
to Europeanize our great America; to draw the line between the 
masses and the classes; and that the demonetization of silver is a 
part of this plan; to enthrone money as king, and make the people 
slaves. If we are to have an aristocracy, and not a democracy in 
this new world, far better have one of blood, than of money; but 
we should have neither; this should be the land of the free, "a 
government of the people, by the people, and for the people"; and 
while we should honor those who by industry, economy and ability 
rise to honest wealth, manhood should be greater than money. 
The Last Battle. 

The struggle for liberty has been long and hard. The rights 
of reason and conscience in religion have been largely conceded; 
political liberty has been enlarged from the one to the few, and 



42 THE SILVER SIDE— Campaign Text-Book. 

from the few to the many, and in this land to all. The last great 
battle is with the money power. In a country where all are free, 
the few, through the centralization of wealth and power, are seek- 
ing to control the many; to make this a land of hired men and 
women; tenants, not owners of farms; laborers for large estab- 
lishments and corporations, and not proprietors in some smaller 
business. Machinery has much to do in bringing about this new 
order of things; nor would it be wise to go back to the old 
methods of industry; we must go forward; but to save the people 
from industrial slavery, there must come some form of co-operation, 
or profit sharing. 

The people of this great republic have to face again the stern 
facts of duty and danger. We are in a great transitional period; 
a stress-period, that if passed through successfully means a new 
age of liberty, of peace and prosperity. The people, the great in- 
dustrial middle classes, the farmers, mechanics and business men, 
should unite upon essential questions and principles of liberty and 
justice, and not divide or weaken their forces in party debates about 
little things. As a rule, the press is on the side of wealth; the 
effort will more and more be to use the pressure of party power 
to support the rule of the few. Something of this was seen in 
the last election; the attempt was made to array the pulpit on one 
side of party politics; it was all right to speak on one side, but all 
wrong to speak on the other; and that was only the beginning 
of what we shall see if oligarchy and plutocracy are enthroned. It 
will be a sad day for this land if it come to pass that liberty of 
speech is limited to only one side of great political issues. 

That the last election was carried by money is not doubted; 
that in many cases, pressure, amounting to little less than coercion, 
was used, will not be denied. That the next national election 
will be carried on upon the same plan is to be expected, feared, 
and should the party now in power perpetuate its rule by these 
means, the slavery of money will be still more firmly established. 

By all its sacred memories, by its sufferings, its victories and 
hopes has this land been consecrated to liberty, to the rights of 
man; if it become a plutocracy, an oligarchy, ruled by the wealthy 
few, and if in no other way that power can be broken, then, the 
twentieth century, like the eighteenth, will be one of revolution; 
for the cause of liberty is rooted in the eternal world-order of the 
good; its conditions are in the Infinite; it appeals to all that is 
noblest, greatest, divinest in man; and hence cannot fail. The 
people of this land have fought and won too many battles for the 
rights of man, as man, to submit to the slavery of a money power, 
even if the chains be made of gold. We should believe and hope 
and work for the peaceful victory of reason and right. 




RICHARD F. PETTIGREW was born at Ludlow, Vt, July, 1848. 
Went with his parents to Wisconsin in 1854. Educated at Evansville 
Academy, and Beloit College. Went to Dakota in 1869 and located at 
Sioux Falls. He opened a law office in 1872. He was elected to the 
Dakota legislative council in 1877, and re-elected in 1879. Was elected 
to the South Dakota constitutional convention of 1883 and to the United 
States Senate October 16, 1889; was re-elected in 1895. His term of 
service will expire March 3, 1901. 



CHAPTER HI. 

THE DISTRIBUTION OF WEALTH. 

BY HON. R. F. PETTIGREW, UNITED STATES SENATOR. 

The existing tendency of wealth to concentrate itself in the 
hands of a few is not the result of natural law, but rather the result 
of a policy dictated by selfishness and promoted by legislation. 

Wealth consists of comforts and luxuries of life and it must be 
created by human toil. Wealth, then, is a product of human sacri- 
fice and self denial, by which the crude elements of nature are 
utilized and consigned to the steady flowing stream of life's comforts 
and luxuries. Wealth makes civilization possible. There can be, 
then, no great accumulation of wealth by one person, except as he 
profits by the toil of others. If a person should save of his earnings, 
after supplying his wants, one dollar per day for thirty years, his 
pecuniary accumulation would be less than ten thousand dollars. 
How, then, to account for, and how to remedy the evils arising from, 
the accumulation of from one million up to one hundred million dol- 
lars by individuals in this new country, is the great problem the 
people of the United States are called upon to solve. Examples 
of the maximum fortune, or approximating thereto, are far too 
numerous. How has such vast concentration of wealth been 
brought about? First, by a system which places the burdens of 
government upon the individual, rather than upon the property of 
the country. Second, by a system of currency and finance devised 
for the purpose of plundering those who toil in the interest of men 
who do not. Third, by the control of the means of transporta- 
tion through legislation which has put our highways of travel and 
traffic into the hands of the unscrupulous and dishonest and allows 
them to levy upon the producing masses such tribute as they choose. 
Human experience has established the fact that as civilization 
advances, capital accumulates. 

Those who have possessed themselves of great accumulations 
of capital strive to increase the value of their holdings through 
legislation. In the past, one of the most simple and effective 
methods of accomplishing this result has been to contract the 
volume of money and make it scarce and dear. The easiest way to 
double the debts of the world is to double the purchasing power 

43 



44 THE SILVER SIDE— Campaign Text-Book. 

of the dollars in which they are to be paid. All economists agree 
that this can be done. All agree that quantity regulates the value 
of the unit of money, rather than the substance of which it is made. 

Great accumulation of capital occurs; the enterprising borrow 
from accumulated capital, and the owners of evidences of debt 
secure such legislation as serves to double the purchasing power of 
the unit of money in which those debts are to be paid — double the 
value of the dollar as measured in the products of human toil. This 
is just what has occurred during the last twenty years. It has had 
the same effect upon the producers of wealth and the debtor class 
throughout the world that the doubling of the length of the yard 
measure would have had upon the manufacturer who, twenty years 
ago, agreed to deliver a million yards of cloth at this time, and in the 
interval the man who was to receive the million yards of cloth had 
secured legislation by which the yard stick was still thirty-six inches 
in length, but each inch was twice as long as it was when he made 
the contract. Of course the manufacturer would have to deliver 
the million yards, because he had contracted to deliver so many 
yards, but he would be obliged to deliver exactly twice the quan- 
tity of cloth he had contracted to deliver. So it is with the debtor. 
He contracted to deliver so many dollars, but after the debt was 
contracted, and by legislation the volume of money had been re- 
duced, the demand confined to one metal by the demonetization of 
silver, and the value, or purchasing power, of the dollar doubled so 
that the debtor is obliged to deliver twice the quantity of the 
products of his toil that he would have been called upon to deliver 
when the debt was contracted. Yet the representatives of wealth 
tell us this is sound money, and they call us repudiators because 
we demand that it shall take no more of the products of toil, no 
more of the products of the farm, to pay a debt when due than it 
would have taken when the debt was contracted. 

Rome with her legions robbed the world. When the Roman 
Empire was founded most of the people owned twelve acres apiece 
— twelve acres per family, indicating a dense rural population. No 
foreign foe could march through that compact mass of land owners 
to the wall of Rome. They were successful farmers and prosperous, 
and they made mighty soldiers. Cincinnatus left the plow and led 
legions on to victory. But during the first century of the Christian 
era, centralization had accomplished its work. The lands had been 
absorbed by the usurer and gathered into vast estates, cultivated by 
tenants and often by slaves. The mines of gold and silver in Spain 
and Greece had been worked out. No more money came from 
conquests of other nations. The currency was sent to India for 
precious stones and to China for silks, and with the consequent de- 
crease in the volume of metallic money, prices of farm product fell 



THE DISTRIBUTION OF WEALTH. 45 

to a point below the cost of production, and the ruin of agriculture 
was made complete. Pliny thus described the condition of the 
farming classes during his time: 

A large estate adjoining his own was for sale, and he was tempted 
to buy, "for the land was fertile, rich and well watered," the fields pro- 
duced vines and wood which promised a fair return, and yet this natural 
fruitfulness was marred by the misery of the husbandman. He found 
that the former owner "had often seized the pignora, or pledges (that is, 
all the property the tenants possessed), and though by so doing he 
had temporarily reduced their arrears, he had left them without the 
means of tilling the soil." These tenants were free men, who had been 
unable to meet their rents because of falling prices, and who, when 
they had lost tools, cattle and household effects were left paupers on the 
farms they could neither cultivate nor abandon. Consequently the property 
had suffered, the rent had declined, and for these reasons and the "general 
hardness of the times," its value had fallen from five million to three million 
sesterces. 

^According to Pliny, a collection of a rent in money had become 
impossible in the reign of Trojan. The reason was that with a con- 
tracting currency, prices of produce fell and each year's crop netted 
less than that of the year before; therefore, a rent moderate in one de- 
cade was extortionate in the next. But taxes did not fall in values; on 
the contrary, the tendency of centralization is always towards a more costly 
administration. Under Augustus, one emperor with a moderate house- 
hold sufficed; but in the third century Diocletian found it necessary to 
reorganize the government under four Caesars, and everything became 
specialized in the same proportion. The evolution of this centralized 
society was as logical as every other work of nature. When force reached 
a state where it expressed itself exclusively through money, the governing 
class ceased to be chosen, because they were valiant or eloquent, artistic, 
learned or devout, and were selected solely because they had the faculty 
of acquiring and keeping wealth. As long as the weak retained enough 
vitality to produce something which could be absorbed, this oligarchy was 
invincible. 

Warnings from Rome; Will This Republic Give Heed? 

In 360 A. D., Rome demonetized silver and the usurer made all 
contracts payable by weight in gold, just as our usurers are now 
doing in requiring every contract to be made payable in gold dollars 
of the present weight and fineness. From this period the decline 
of Rome was very rapid. The city ceased to be the seat of empire 
and fell an easy prey to the barbarous hordes who, in the time of the 
legions of rural land owners, would have been scattered like chaff 
before they could have reached the walls of Rome. 

*Brooks Adams' "Civilization and Decay." 



46 THE SILVER SIDE— Campaign Text-Book. 

Within the last few years, under the powerful forces of concen- 
tration, the expenses of the government of the United States have 
grown to half a billion a year, and have even exceeded that amount. 
The reader will remember how the country was startled when, for 
the first time, the congressional appropriation amounted to half 
a billion dollars. Yet now we have come to consider such an 
allowance of public funds as a matter of course. Even though 
prices have gone down and our people have ceased to prosper, the 
cost of administration mounts up and up as the years go by, and 
increases, instead of decreases, as it did in the Roman Empire during 
the days of its decay. 

Are we not reaching the same point when men attain power 
through their ability to acquire and retain wealth, rather than be- 
cause of their great intellect and virtue? The public has often heard 
about the millionaires' club of the United States senate. Such ab- 
normal combinations are the breeding places of destructive legis- 
lation. We have come to regard corruption with indifference. 
Every nation that has disappeared from the stage has disappeared 
from the same cause. It was so with the Byzantine empire, with 
Venice and Spain, and so it will be with us. 

The usurer has no sense. He comfortably calculates that the 
day of reckoning will not arrive in his lifetime and that other gen- 
erations may reap the destruction the seeds of which he has sown. 
He endeavors to satisfy himself that he may escape, and clings to 
the delusion that time will postpone the inevitable until some chance 
shall furnish relief. Thus he trifles with fate, rather than release 
his greed and grasp. And so he goes on and on while national de- 
cay and ruin set in and his country as a free nation disappears. 

The gold of the world is cornered by the world's great creditors. 
England has thousands of millions of dollars loaned in other coun- 
tries. The Rothschild family has made loans to the borrowing 
classes of the world amounting to forty thousand millions, a sum 
equal to two-thirds of the wealth of the people of the United States, 
all under the control of this one house of European bankers. Think 
of it! An amount equal to two-thirds of all the wealth of our 
seventy millions of people is under the control of a single family of 
European bankers! 

In December, 1891, the European banks held one thousand, one 
hundred and thirty-five million dollars in gold. Let us see where 
they got this additional five hundred millions, for with the increased 
hoard in the treasury of Russia, the gold deposit growth has been 
five hundred and thirteen millions since 1891. During this time 
there has been taken from the mines of the world eight hundred and 
forty-five million dollars' worth of gold. There has been consumed 
in the arts in these five years three hundred and twenty-five million, 



THE DISTRIBUTION OF WEALTH. 47 

and the loss by abrasion of coin in circulation amounts to one 
hundred million. These are the figures of the Statistical Society of 
France, and they show that the total consumption in the arts and 
through recoinage was four hundred and twenty-five million dollars. 
The total product during the period referred to was eight hundred 
and forty-five millions. The balance of the four hundred and twen- 
ty millions was left for currency purposes, according to these sta- 
tistics. But the European banks had accumulated five hundred 
and thirteen millions of dollars, or ninety-three millions more than 
the total product from the mines during all those five years. They 
laid this vast sum away and withdrew it from circulation and thus 
contracted the currency. We were foolish enough, in 1893, to 
contribute to the world-wide policy of currency contraction by 
completing the demonetization of silver in the United States, thus 
accelerating the downward course of prices. 

We exported in 1890 five million, eight hundred thousand dol- 
lars in gold; in 1891, forty-four million dollars; in 1892, sixty-two 
million, seven hundred thousand; in 1893, ten million, six hundred 
thousand. Then we repealed the Sherman law, and it was said gold 
would cease to leave the country and confidence would be restored. 
And in 1894 we exported seventy-four million, eight hundred thou- 
sand; in 1895 seventy-one million, seven hundred thousand, and up 
to the last of July, or the end of the fiscal year in 1896, we exported 
eighty million dollars more than we imported. We have lost, then, 
three hundred and forty-nine million to the syndicates of European 
bankers. Thus by insisting upon the single gold standard we have 
placed the price of everything we sell in Europe in the hands of the 
people who want to buy our products. Yet those who control the 
financial policy of this country tell us we must continue gold mono- 
metallism until the shylocks of Europe are willing to make a change. 

I am quite certain that these figures in relation to the consump- 
tion of gold are incorrect, and am convinced that the gold pro- 
duced each year is used in the arts and that not a single dollar of 
it is used to augment the currency volume — that instead of an 
increase in the quantity of gold in circulation from the annual output 
of mines, all that the mines have produced during the last five 
years has been consumed. It follows that the hoarding of gold 
by the European banks has contracted the volume of gold in cir- 
culation five hundred and thirteen million in the last five years. I 
find as my authority for this conclusion the statistician of the Lon- 
don Statistical Society, Giffin, who makes the following statement in 
his book, 'The Case Against Bimetallism": 

"The demand for non-monetary purposes on the annual pro- 
duction is also preponderant in the case of gold, and very large in 
the case of silver. About two-thirds of the gold annually produced 
is taken for the arts, and if the consumption of India is included, as 



48 THE SILVER SIDE— Campaign Text-Book. 

being either for simple hoarding or for the arts, and in no case for 
the purposes of circulating money, then the demand for gold for 
non-monetary purposes appears almost equal to the entire annual 
production." 

It seems to me that these figures are alarming — that these facts 
ought to startle the American people. Those who control with 
their ballots the destinies of the United States should turn their 
backs upon the monied combination which maintains a financial 
system satisfactory to the people of Europe, who are plundering 
the people of this country of the products of their toil. 

And are we to continue the suicidal policy of our recent past 
until civilization ceases and the republic fades from existence? 
That is the vital question in this controversy. It is not a ques- 
tion of who holds the offices. It is a broader and mightier ques- 
tion. It is a question of civilization itself. More than all other 
things combined has this doubling of the purchasing power of the 
measure of value, this lengthening of the yard stick, been the cause 
of the accumulation of the wealth of this country practically in 
the hands of two hundred and fifty thousand men. How easy it is 
for wealth to marshal its forces. How easy to send forth an order 
that the patriotic young man should be defeated who had declared 
that he would use the power of his office, if elected, to drive 
every trust from existence. We derive this lesson from a result 
that has become a part of our political history. 

Having won the victory which pledges this country to a 
continuation of the policy that has produced disaster, we are urged 
to cease to discuss questions involved in the late election cam- 
paign, so that confidence may be restored. If our country pos- 
sesses a financial system so weak that it totters before the breath 
of discussion, that system ought to be destroyed. 

The Railroad Monopoly. 

The monopoly of the money of the gold-using world, which has 
been a means in all past time most potent in the concentration of 
wealth, has been wonderfully strengthened in the United States by 
a monopoly of the highways of the nation through an unscrupulous 
control of all means of transportation. 

Prior to the invention and use of railroads, the people of this 
country, from the very foundation of the government, regarded in- 
land transportation as something which the nation and the states 
should provide and control, as the numerous highways and canals 
built by the general government and by the state, throughout all 
our history, amply demonstrate. 

But with the use of steam it became the province of corpora- 
tions to construct and operate railroads, and then as a peo- 



THE DISTRIBUTION OF WEALTH. 49 

pie, as a government, as a nation, we surrendered one of the 
most important functions of government. These transportation high- 
ways are infested with robbers, who plunder at will the persons 
upon whose patronage they subsist and thrive, and levy toll upon 
commerce that is equal to the confiscation of the property that 
passes over their lines. When protest is made, they declare that 
their operations are under the guise of, and protected by, law; and 
when we appeal to the legislative branch of the government, we 
are met by bribery and other forms of corruption. If we appeal 
to the courts, we ascertain that their judges were railroad lawyers 
before they donned the ermine, and that their fortunes are invested 
in the railroad stocks of the corporations they serve. In support 
of these allegations, a brief extract from the public records will 
prove interesting to all advocates of reform, even though it dis- 
closes a humiliating condition of our affairs. Mr. Macfarlane, 
United States District Attorney for the southern district of New 
York, began an action by injunction, on the 17th of January, 1896, 
to restrain the Joint Traffic Association, composed of thirty-two rail- 
road companies, from fulfilling the terms of an agreement en- 
tered into by the representatives of the various companies com- 
prising the association. At a hearing, upon the subject of this appeal 
to the courts, before the committee on Interstate Commerce of the 
United States senate, on the 17th of December, 1896, Mr. Mac- 
farlane testified as follows : 

Mr. McFarlane. The motion for an injunction was noticed for the 
first motion day thereafter, which was the 17th day of January. That 
was the first motion calendar after the notice had been served. That 
calendar is called commonly by Circuit Judge Lacombe in the southern 
district. 

When it came up, Judge Lacombe stated that in his opinion he was 
disqualified to hear the case, or any proceedings in it, as at that time he 
owned bonds or stocks in some of these railroads; and he also stated 
that he understood that most, if not all, of the judges of that circuit 
were under the same disqualifications. 

It was finally found that Judge Wheeler, the district judge of the 
Vermont district, was apparently the only judge in the circuit who 
was not under a disqualification similar to that which Judge Lacombe 
had stated he was under, namely, the holding of bonds or stocks in one 
of the defendant railroads. It was eventually arranged that the case should 
be heard before Judge Wheeler, as it finally was. 

Let us briefly examine the methods of the corporations. The 
mileage of the railroads in the United States is about 175,000. 
4 



50 THE SILVER SIDE— Campaign Text-Book. 

Capitalized for 1895 $10,963,000,000 

Stocks 4,961,000,000 

Bonds 5,385,000,000 

Other obligations 616,000,000 

Total $10,962,000,000 

Actual cost 4,375,000,000 

v 

Capitalized (in excess of cost) for $6,588,000,000 
Every dollar paid as interest upon this capitalization in excess 
of the cost of the railroads is legalized robbery, and, in the name 
of good morals., it is as dishonest to compel the public to pay interest 
on that which it never borrowed as it is to refuse to pay on that 
which it has borrowed. It will be observed that our railroads were 
not built from the sale of the capital stock. The stock was all 
issued without consideration, and a large per cent, of the bonds 
also represent no investment whatever. 

As all wealth is the result of human toil, the creation of this 
stock, the issue of these bonds, and the collection of interest upon 
the same, is but a method by which to plunder the man who produces 
by toil. This stock and these bonds represent no wealth, be- 
cause they represent no toil. If a dividend is paid upon such se- 
curities, those who toil are plundered to the extent of the money thus 
extorted. No corporation should be allowed to issue one dollar of 
stock or of bonds without payment in full, and it should be further 
required that the money be honestly expended for the purpose for 
which it is paid. 

There are no innocent purchasers of that railroad stock living 
today. They have taken it for what they could get it for, be- 
lieving that the methods were such that they could compel the 
producing population of this country to pay interest and dividends 
on the bonds and stocks. Investors all knew the stock was issued 
without consideration, and nothing was paid for it. They are 
therefore entitled to no consideration whatever. The stock of 
every corporation should be pared down to represent the actual 
cost of the property, and nothing more, or else the government 
should build and own railroads with which to protect the people of 
this country. 

Revelation of Facts that Should Arouse the Nation* 
Now let us see what has been the result of our financial legisla- 
tion and our laws in relation to corporations. The United States 
has produced more wealth in the last thirty years than any other 
nation on the globe. With marvelous energy, with wonderful en- 
terprise, the boys who came home from the war engaged in the 



THE DISTRIBUTION OF WEALTH. 51 

productive industries of this country. They built railroads, and 
cities, opened up the farms, and what is the result? By doubling 
the worth of the measure of value they have been plundered of 
the legitimate results of their efforts. Today fifty-two per cent, of 
our people live in rented houses, and fifty-four per cent, of the 
people of this country secured as the result of their toil, in the year 
1890, incomes of but $600 per family, or $120 per capita. 

Less than five per cent, of the population were the recipients of 
over one-third of the total wealth produced by this nation in 1890. 
Twelve millions and sixty-three thousand families existed under 
incomes aggregating $9,006,000,000, while 626,000 families lived in 
the luxurious enjoyment of incomes amounting to a total of 
$4,504,000,000. 

The first exposition of the distribution of wealth in this country 
was made by Thomas G. Shearman, in The Forum for November, 
1889. His method was to ascertain the aggregate wealth of the 
very rich and then deduct it from the total wealth of the nation, thus 
arriving at the amount of property owned by the middle class and 
those classified as poor. The value of property owned by each of 
the latter two classes was procured from assessors' returns and from 
other sources. 

Shearman's Table of the Distribution of Wealth in the United States* 

Per Average Aggregate Per 

Class. Families. Cent. Wealth. Wealth. Cent. 

Rich 182,000 1.4 $237,143 $43,367,000,000 70 

Middle 1,200,000 9.2 6,250 7,500,000,000 12 

Working 11,620,000 89.4 m 965 11,215,000,000 18 

Total 13,002,000 100. $4,775 $62,082,000,000 100 

Commenting on this, Mr. Shearman says : 

The United States of America are practically owned by less than 
250,000 persons, constituting less than one in sixty of its adult male popula- 
tion. Within thirty years, the present methods of taxation being continued, 
the United States of America will be substantially owned by less than 
50,000 persons, constituting less than one in 500 of the male population. 

He says that this is an underestimate, and in the second article 
adds: 

If this system continues, the coming of the billionaire on the one hand, 
and of the million paupers on the other, is inevitable. 

The conclusions arrived at by Shearman are corroborated and 
confirmed by the evidence of the census taken in 1890 and compiled 
by George K. Holmes. The method of ascertaining the distribution 
of wealth adopted by Holmes was the opposite of that employed by 
Shearman. Holmes gathered from the data furnished by the cen- 



52 THE SILVER SIDE— Campaign Text-Book. 

sus the aggregate value of property owned by the poor, and then 
found the wealth belonging to the rich by the process of subtraction. 

Holmes Table of the Distribution of Wealth in the United States. 

Per Average Aggregate Per 

Class. Families. Cent. Wealth. Wealth. Cent. 

Millionaires 4,000 .03 $3,000,000 $12,000,000,000 20 

Rich 1,139,000 8.97 26,866 30,600,000,000 51 

Total rich • 1,143,000 9. $37,358 $42,600,000,000 71 

Class 1 3,556,000 28. $3,374 $12,000,000,000 20 

Class 2 1,397,000 11. 1,718 2,400,000,000 4 

Class 3 6,604,000 52. 454 3,000,000,000 5 

Total poor 11,557,000 91. $1,514 $17,400,000,000 29 

Grand total 12,700,000 100. $4,725 $60,000,000,000 100 

Class 1 are the families owning farms or homes without incum- 
brances. Class 2 are those owning them with incumbrances, and 
Class 3 are tenants of farms or homes owned by others. 

Charles B. Spahr, one of the editors of The Outlook, has also in- 
vestigated this subject through an examination of the probate rec- 
ords of several states, and from these he has drawn the following 
conclusions regarding the distribution of the wealth of the whole 
country : 

Spahr's Table of the Distribution of "Wealth in the United States. 

Per Average Aggregate Per 

Class. Families. "Cent. Wealth. Wealth. Cent. 

Rich 125,000 1. $263,040 $32,880,000,000 54.8 

Middle 1,362,500 10.9 14,180 19,320,000,000 32.2 

Poor 4,762,500 38.1 1,639 7,800,000,000 13. 

Very poor 6,250,000 50. 

Total 13,500,000 100. $4,800 $60,000,000,000 100. 

Mr. Spahr, commenting on this, says: 

Whatever error there is in this table is demonstrably on the side of 
understanding the present concentration of wealth, for in the returns made 
to the surrogates the debts are not yet deducted from the value of the estates, 
and it is the small house owners and shopkeepers and farmers whose debts 
cover the most considerable portion of their holdings. We must recognize, 
therefore, that the nation's vast wealth does not bring comfort and inde- 
pendence to the rank and file of the people. If the nation's wealth is to mean 
the nation's well-being, the rank and file of the people must reverse the 
policies which the rich, and the tools of the rich, have thrust upon them. 

These investigations show that not more than 250,000 people 
own forty-four billion dollars ($44,000,000,000) of the wealth of this 



THE DISTRIBUTION OF WEALTH. 53 

country, or much more than two-thirds of the total. They own or 
control the banks and money of this country. They own or 
control the railroads, and their property escapes taxation. They 
own or control the great daily papers and magazines. Even the 
pulpit, subsidized by their liberality, is at their command and heralds 
their wishes and enunciates their decrees. 

With a knowledge of all these startling facts in our possession 
concerning the direction in which we are drifting as a people, can 
any person doubt that the United States is rapidly becoming, if it 
has not already become, a plutocracy of artificial persons, rather 
than a free republic? To check, without revolution, the onward 
course of these forces, to bring about a fair distribution of existing 
wealth, to enact laws that will accord to each citizen his just share 
of the fruits of his toil in the future, are the problems to be met in 
the next political contest in this country. 



CHAPTER IV. 

USURPATION OF PLUTOCRACY. 

BY GENERAL JAMES B. WEAVER. 

It is not the intention in this short chapter to enter into a thor- 
ough presentation of the subject mentioned in our title, but simply 
to suggest to the reader a line of investigation of great importance 
to all who cherish a love for free government. 

The American people believe that government derives its just 
powers from the consent of the governed. We asserted this sacred 
tenet amid the throes of revolution and made it the chief stone in 
the structure of the great republic. Thousands of men have 
willingly laid down their lives and scores of thousands poured out 
their precious blood to force reluctant despots and purse-proud 
aristocrats to recognize this elementary truth in human association. 
The so-called divine right of kings was at last forced to give way to 
the divine right of the people. The world was taught that man's 
natural rights are inalienable and cannot be rightfully or safely with- 
held at the pleasure of a monarch. The sword set these doctrines 
at rest, and the constitution and appropriate legislation which imme- 
diately followed the ratification of that instrument was thought to be 
sufficient to guard the people against the usurpation of power for 
all time. But it must be remembered that every important declara- 
tion in the charter of our liberties had its determined foes at the 
time that document was given to the world — foes at home and un- 
numbered enemies abroad. Through all the century they have been 
sleepless and insidious in their .determination and methods to 
undermine popular authority. Like other dangerous maladies they 
always make war at the point of least resistance. If there is an 
obscure niche or nook along the line where the people are off guard, 
there the enemies of free government mass their forces and work 
their deadliest purposes. The intervals of peace following our four 
great wars have been so brief, and the structures of states, increase 
of population and extension of settlement so rapid that the people 
of the United States have not had time to study the whole curricu- 
lum of freedom. Some of the most important safeguards of liberty 
have been almost entirely neglected. 

54 




GENERAL JAMES B. WEAVER, a native of Dayton, Ohio, was 
born in 1833. Graduated at Cincinnati Law School; practiced law for 
twenty years. Elected four years district attorney, Second judicial dis- 
trict, Iowa. Elected to Congress in 1878, having left the Republican 
party previous year because of its financial policy; candidate of the 
Greenback party for president in 1880. Elected to Congress in 1884. 
Nominated for president by People's party in 1892, and polled 1,000,000 
votes, receiving twenty-two electoral votes. He has lectured for twenty 
years in every state and territory — now, and for years past, working for 
the restoration of silver. 



USURPATION OF PLUTOCRACY. 55 

Parties Have Suppressed the Individual. 

Meanwhile parties have sprung into existence which have largely 
suppressed the individual and forbidden him to entertain opinions 
which are to control him beyond the meeting of the next state 
or national convention. The plutocracy captures a great party, 
it makes it the best training school for despotism ever invented. 
Parties have come to occupy the same position in the realm of 
opinion that the trust octopus sustains to the domain of trade. The 
individual must retire or be crushed. The moment a man is so 
presumptuous as to think for himself and to give expression to 
his opinions, he is placed under ban and marked for discipline. The 
autocrats who control the machine never take the rank and file into 
their confidence nor explain the real purposes and policies which 
they have in view. These are carefully kept in the background. 
When the opposition spell out the concealed and obnoxious pur- 
poses and lay them before the people, campaign orators flatly deny 
the charge and declare the inferences unwarranted. They at once 
shift the discussion to other lines and by a wave of the hand and a 
nod of the head inspire their followers to confide once more in their 
integrity of purpose. They divide up their policy and reveal but 
little of it at a time. They think out their designs as a harmonious 
whole and then advance step at a time. To attempt all at once 
would arouse the people and defeat their purposes. So, borrowing 
a point from military tactics, they advance by gradual approaches. 

Retrospective View of Their "Work. 

The contraction act of 1866, the credit strengthening act of 1869, 
funding act of 1870, the act of 1873, which struck down silver, the 
concealed and vicious provisions of the resumption act, the excep- 
tion clauses in the legal tender and in the Bland-Allison acts, and 
the dead-falls in the Sherman act of 1890 were all parts of one 
villainous scheme, and yet their enactment came by piecemeal 
through a stretch of twenty-seven years. 

Free government cannot long survive when in the hands of 
vicious legislators, whose policy is one of cunning and who use 
the gun and the dollar to subjugate and overawe the people. When 
the state is armed and the people disarmed and impoverished, liberty 
is gone and repression is substituted for the golden rule. 

The Power that Controls the Volume of Money Absolute. 
The power which controls the issue and volume of money in any 
and every nation is absolute master of the people and of their mili- 
tary strength. It determines the degree of civilization. It fixes 
the volume of business, shapes the lives of the people, determines 
their income, sets bounds to moral, intellectual and material prog- 



56 THE SILVER SIDE— Campaign Text-Book. 

ress and the growth of liberty among men. Our money lords, 
everywhere, know this, and being full of "the root of all evil," they 
feed upon the poison and blossom readily into full-fledged pluto- 
crats. When party leaders ask for power on one line of public 
policy and then as soon as they are in office proceed to legislate 
upon another and more important function of government upon 
which public judgment has not spoken, no intelligent man needs 
to be told that their motives are selfish and bad. If a neighbor 
has been given permission to come upon your premises in the spring 
time and take a few designated shrubs, you would consider him an 
outlaw and a vandal if he passed by the shrubs and proceeded to 
tear up your orchard or cut down the dear old shade trees which 
sheltered the family. 

Political Campaigns of Duplicity. 

A glance at the stealthy manner in which they have conducted 
their campaigns of subjugation in their country since the close of 
our late war will assist the reader to understand the source of the 
inspiration and the motives which underlie their movements. The 
act of 1866 which clothed the secretary of the treasury with power 
to contract the currency just when millions of our penniless brethren 
in the South had returned to the Union and needed succor, was 
never mentioned in the campaign in which the congress that passed 
this cruel law was chosen nor was the public consulted in any man- 
ner concerning the matter. So of the credit strengthening act of 
1869, the funding act of 1870, the act demonetizing silver in 1873, 
and the hidden and baleful provisions of the resumption act of 1873. 
John Sherman declared in his report to the senate on the funding 
bill that the object was to prevent the payment of the bonds in any- 
thing but coin, which he feared might be done in obedience to public 
clamor if reliance was placed upon the credit strengthening alone — 
the people might demand the repeal of this act. There is no esti- 
mate that can be placed upon the injury inflicted upon the country 
by the acts above mentioned. They robbed the people, precipitated 
the panic of 1873 and the unnumbered evils which followed like a 
plague for six long years. The scars of these accursed acts will 
continue to mar our civilization to the latest generation. The tree 
of liberty can never have the symmetrical growth or sheltering 
power which it would have had if these baneful laws had never been 
passed. No congress was ever bidden by the people to enact these 
iniquitous statutes. They were conceived by English investors and 
their Wall street allies and rushed through by their pliant tools in 
congress. Hatred and distrust of the South was made the slogan 
in all the campaigns which covered the period of the land grant 
frauds, the contraction, funding, credit strengthening, silver de- 



USURPATION OF PLUTOCRACY. 57 

monetizing, national bank extension and kindred acts. When the 
Southern bogyman failed to draw, the old spavined tariff question 
was sprung to divert public attention from the real issues. At no 
time in all these dark years and disastrous campaigns were the 
people, prior to the closing of administrations and congresses, ever 
informed of the legislation which followed and the consequences 
which would ensue. Clothed with power upon an issue of imagin- 
ary importance and of secondary nature, they proceeded, uncommis- 
sioned by their constituency, to legislate upon other matters which 
they dared not to disclose before election and to which public at- 
tention has never been directed. We cannot conceive of a grosser 
usurpation. If it is to be continued and tolerated, human liberty 
and republican government are mere phantoms to lure us to de- 
struction. 

The True and Only Remedy, the Referendum. 
One and all of the accursed laws mentioned above and others 
of equal importance and the crafty interpretation thereof, came upon 
the people like a cloudburst and without warning. They were not 
foreshadowed in party platforms nor aroused from the hustings in 
campaigns which preceded their enactment. They are without 
moral sanction because enacted by stolen authority. They are 
about as valid from a moral standpoint as the title which the thief 
conveys to the purchaser of stolen property. The rightful owner 
can follow his property anywhere and recover it. The people 
should resent the rape of their liberties by rallying to the repeal of 
these laws, the enactment of just ones in their stead and by then 
enacting the safeguard of the referendum to forever prevent the 
recurrence of such outrages. 



CHAPTER V. 

CURSE OF A MONSTROUS CRIME IS UPON US. 



BY GOV. HORACE BOIES. 

Col. D. M. Fox: Your kind request that I prepare for "The 
Silver Side" an article on the currency question has lain upon my 
table many days while I have been trying to convince myself 
that anything I can say will aid in the least degree the cause of 
bimetallism, or interest to any extent the readers of your forth- 
coming book. 

It is probably fair to conclude that my duty is not different from 
that of others, and that I ought to contribute as opportunity occurs 
the mite of my own views to a cause that so vitally affects the 
whole brotherhood of man. 

To me the miracle of the 19th century is the fact that in an 
age marvelous beyond all its predecessors for the advancement in 
human knowledge for the discovery of innumerable methods by 
which the comfort of man may be promoted, for the multiplied 
human wants which the customs of recent years have created, and 
consequent necessity for an increase of the means through which 
alone they can be supplied, an influence could have been molded 
and set in motion wide enough and strong enough to practically 
destroy one of the money metals that from the dawn of civilization 
until the early years of the present century had ministered to the 
necessities of men, and supplied the luxuries which human nature 
in every condition of life so eagerly craves. 

I cannot believe the sober judgment of the present age in this 
free republic of ours commends the acts through which this has been 
accomplished. 

I know the inevitable result has been an exorbitant increase in 
the intrinsic value of the metal that is left, and consequent cruel 
depression in the selling price of everything it measures. 

I know, too, that a demand for a perpetual gold standard, that 
four short years ago no political party in this nation dared to 
make, that even in our last campaign was smothered under the 
specious plea that a return to the use of both metals as standard 
money should come through the united action of nations over whose 

58 




HON. HORACE BOIES, a native of New York, born December 7, 
1827. Worked on the farm until sixteen, then went to Wisconsin. Worked 
on a farm summers and taught school winters the next four years; then 
returned to New York, and entered a law office. Subsequently admitted 
to the bar, and practiced until 1867. Served one year in the legislature. 
Came to Iowa in 1867, practiced law in Waterloo until inaugurated gov- 
ernor, in 1890; re-elected in 1892. Was a prominent candidate for presi- 
dent in 1896, earnestly supported by his own state and a large following 
in others; but the money power was for McKinley. At the time of this 
writing, he is being urged by thousands to become a candidate for gover- 
nor against the gold candidate. 



CURSE OF A MONSTROUS CRIME IS UPON US. 59 

financial policies we have no control, is already brazenly heralded 
by a venal press and openly and publicly asserted by millions of 
selfish men as an accomplished fact from which there is no appeal, 
no hope of relief. 

And I know, also, that the curse of a monstrous crime is upon 
us today. That here in this land of the free its victim is a pros- 
trate nation, whose granaries are bursting with food, while millions 
of men, gaunt with hunger, go forth from homes where famine 
reigns and wander up and down its streets pleading for work they 
cannot obtain, begging for bread they cannot earn, because every- 
where the wheels of industry are clogged and all the arteries of 
trade are congested by this hypocritical cry for gold, for gold enough 
to sustain the monetary systems of all the nations, a cry that 
cannot be favorably answered, that those who utter do not want 
so answered because to give to the world what they ask would 
cheapen that they already have. 

Currency that Saved the Nation to be Destroyed. 
I have heard the imperious demand that a currency to the exist- 
ence of which this nation owes its very life, without which through 
years of agonizing strife it could not have survived a single day, 
shall be utterly destroyed, cut up root and branch alike and cast 
out forever from the monetary system of the government it preserved 
to make way for rags that bear upon their faces a mere promise 
of some puny corporation to pay, that are not money, that do 
not purport to be money, that cannot be made money under the 
constitution of this republic, and yet that are to float out from thou- 
sands of incorporated banks that have not behind them a tithe 
of the security that accompanies every United States note, and 
sail an unruffled sea so long as its waters are undisturbed, and be 
hustled back into the iron vaults from which they emerge at the 
first signal of danger that darkens the financial sky, and leaves 
a helpless people to struggle with the waves as they come, and I 
wait and watch for the reply a great nation is to give to this in- 
famous demand of shameless, unblushing greed. 

Statement that National Debt Contracted Upon Gold Basis False. 
I have listened to the stale falsehood that the debts of this 
nation have been contracted upon a gold basis, and hence to change 
our monetary system to a double standard would be partial re- 
pudiation of existing obligations, when I knew that those who 
made the statement were not ignorant of the fact that from the 
foundation of this government until 1893, for every practical pur- 
pose, a double standard prevailed in this nation, because the mints 
of the country in every year when either metal was in use as a circu- 



60 THE SILVER SIDE— Campaign Text-Book. 

lating medium were pouring into the channels of trade a silver 
stream great enough and good enough to preserve in fact the double 
standard provided for in the highest law a nation can make, the 
constitution itself, upon which the whole fabric of our institutions 
must rest or finally crumble to inevitable decay, and I know, too, 
that in stopping the flow of that stream but four short years ago 
congress heartlessly increased the burden of every debt in exist- 
ence, and as greatly enhanced the intrinsic value of every security 
held for the same. 

There are no words in the English language at my command that 
express my utter abhorrence of a financial policy that I believe 
was designed to enrich a limited few at the expense of the toiling 
millions of the world, that is doubling the value of a single form 
of property and cutting in twain the price of every other species of 
the earthly possessions of men, that is reducing the laborer to a 
serf, the debtor to a slave, the world to contending classes that 
forbid the long continued existence of republics like our own. 

I must be pardoned, therefore, if in the midst of surroundings 
such as the present seem to me, I stop to inquire if the great party 
to which it is my privilege to belong should renew the battle of the 
future upon lines that led it down to defeat in the contest just 
closed. 

To determine this, an impartial survey of the past is certainly 
essential. 

Is it possible to point out a single particular in which the 
friends of silver will be more favorably situated in the future than 
they were in their last campaign? I cannot conceive of one. I 
know they entered that contest with the zeal and determi- 
nation of new born converts to a great, an overshadowing 
reform. I know they were led by an able captain, who 
drew to his support conflicting political elements that no other 
man in America could have so thoroughly united in a single cause. 
I know the ablest of lieutenants, the most devoted of disciples, stood 
bravely by him through the long weeks of his heroic struggle, and 
yet truth compels me to admit that from the opening of the 
campaign to its close, the ranks of the silver forces were con- 
tinuously decimated instead of increased, and I know, as all others 
know, that the victory of their enemies has inspired them with a 
confidence they never knew before, and dampened, if it has done 
no more, the hopes of millions of men who believed in the righteous 
justice of their cause. 

Ordinary prudence, therefore, requires that before the contest 
is renewed, as it necessarily will be in our next congressional elec- 
tion, a reasonable effort should be made to discover the predomi- 



CURSE OF A MONSTROUS CRIME IS UPON US. 61 

nant force that accomplished our defeat, and reasonable caution 
observed to avoid another like disaster from the same cause. 

Let us, therefore, candidly inquire what constituted the im- 
pregnable wall against which the silver forces were constantly 
hurled, and from which they were beaten back in spite of the 
herculean efforts of the most determined of their leaders. 

Was it anything less than a belief that continuously grew in the 
public mind as the canvass progressed that the practical effect of 
success by the friends of silver would be the substitution of one of 
the money metals for the other, of silver monometallism for gold 
monometallism, and that such a change would increase instead of 
diminish the misfortunes we attribute to a single standard of gold? 
To my own mind there is but one possible answer to this ques- 
tion. That was the rock upon which our good ship foundered. 
It is still in the way. It matters not how thoroughly we con- 
vince the American people that a gold standard is wrong unless 
we can go farther and convince them also that what we offer in its 
place is better instead of worse. This we did not succeed in doing. 
There is no argument that can be used in the future to accomplish 
that end that was not thoroughly exhausted in the contest we lost. 
The issue as we made it furnished a cover for our foes under 
which they were not slow to take refuge. They did not assail 
bimetallism as a fundamental principle in our financial sys- 
tem. Instead of this they profess to favor it. They simply said 
of our plan, it means silver monometallism, no more, no less. A 
great majority of our people believed them. Defeat was the 
consequence, and it will follow as often as the issue is so made that 
they can fight us behind a breastwork that conceals their real 
purpose. 

Before we can hope for success this rampart of theirs must be 
razed to the ground. They must be driven from every cover and 
compelled to fight in the open field under a jag that reveals the 
full measure of their intentions. 

Their pretense of devotion to the cause of genuine bimetallism 
is a falsehood. Their plan to secure it an intentional fraud. Gold 
is their god. To lessen the demand for it by the use of silver as 
redemption money upon any terms, under any conditions, would 
cheapen it, and correspondingly increase the price of everything 
it measures. This they know, and this is the whole secret of 
efforts by the craftiest of leaders to maintain a single standard of 
gold. 

The friends of silver, although once defeated, are not yet de- 
moralized. This will not be true after a second defeat. In our 
next great battle we must win or our cause is lost. 

How can we win? This is the one overshadowing question 



62 THE SILVER SIDE— Campaign Text-Book. 

that should be pressed home to the heart, the conscience, the in- 
telligence of every friend of silver. For one, I do not believe it 
possible to succeed upon a platform that demands the unqualified 
free coinage of silver at the ratio of 16 to I with gold. We have 
fought that battle, and it is lost. We can never fight it over under 
circumstances more favorable to ourselves. 

If we hope to succeed we must abandon this extreme demand. 
We must frame our platform so that success will insure bimetallism, 
so that no man can say it will not, so that our enemies will be com- 
pelled to fight the principle of bimetallism and openly defend gold 
monometallism as the one sole basis of our financial system. We 
must drive them from their covers, array them where they belong, 
against the constitution of their country, the traditions of our peo- 
ple, the history of every age in all the world until a hellish greed, 
born in the present century and nursed at the breast of monarchy, 
drove silver from the place for which an omnipotent God designed 
it, and spread in its departing wake the seeds of universal decay. 

To do this we must make silver for monetary uses the exact 
equal of gold, not its equal upon terms that made it such before it 
was assassinated, but its equal as it is today. We must stifle forever 
this terrifying shout of an unsound dollar of silver monometallism 
by which we have been once overwhelmed. 

To accomplish this it is not necessary that we advocate the 
minting of silver at its present commercial value with gold. We 
ought not to do so, for that would fix its value so that no appre- 
ciation could result from its more extended use as a money metal. 
What we should do is to open the treasury of the nation to every 
ounce of silver that will come to it and issue in lieu thereof a paper 
representative bearing the solemn promise of the government that 
it shall be redeemed in silver or gold at its full market price in the 
great centers of trade whenever presented for redemption. 

We can so frame the details of such a plan as to attract to the 
treasury of the nation every grain of silver mined within the United 
States that can De spared for monetary purposes until the last dollar 
of paper currency now in use in this country has been supplanted by 
treasury notes backed to their full face value by silver or gold. 

Long before this is accomplished silver will have regained much 
if not all it has lost by adverse legislation on the part of so many 
nations of the world. 

Ours is the great silver producing country of the globe. Con- 
fine the entire output of our mines to our own country, withhold 
every ounce of it from the markets of the world, and a few brief 
years will solve the problem for all time to come. 

Silver will go up in value; gold will come down; our financial 
system will be built upon a rock that no power on earth can shake. 
Prices will advance; labor fined employment; justice will be done, 



CURSE OF A MONSTROUS CRIME IS UPON US. 63 

and the withering curse of a nation will be lifted from the shoulders 
of a people which has already paid the penalty of its one great sin. 



KINDLY RESPONSE. 

BY THE AUTHOR. 

Gov. Boies was requested by the author to contribute an article 
for "The Silver Side." After extending the invitation, he learned 
that the governor had somewhat modified his views on the silver 
question as to ratio; nevertheless his communication is presented, 
dissenting with due respect from his proposed methods in the use 
of gold and silver. Most emphatically and righteously he con- 
demns the Republican party's action at St. Louis for its adoption of 
the single gold standard, and he has no sympathy with Democrats 
who left their time honored party to join hands with their thereto- 
fore bitter opponents in ignoring silver, one of our most precious 
metals, the one nearest to the people. Notwithstanding this differ- 
ence of opinion, many bimetallists will doubtless read the spirited 
article from Governor Boies with interest, although very few indeed, 
we trow, will be likely to agree with his views on the use of silver. 

The suggestion that the government should issue certificates 
for silver bullion, redeemable at the market price of silver, is not 
quite clear. As understood, the certificate is given for a specified 
number of ounces of standard silver, the sum paid being specified, 
such sum being the then market price at the mint of that number of 
ounces. When such certificate is presented for redemption, the 
government pays the holder in silvern, sum equivalent to the market 
value of the number of ounces of silver specified in said certificate. 
If this conclusion is right, would he make these certificates a legal 
tender? If so, for what sum? The probable answer will be, for a 
sum equivalent to the market value of that number of ounces of 
silver on that day. If so, by whom or how would the market value 
be shown at that or at any specified time? If the certificate were 
not a legal tender, would they be of any practical value? 

It is suggested by the governor that silver monometallism would 
be productive of as great evils as gold monometallism and that the 
fear of silver monometallism contributed to the defeat of Mr. Bryan. 
No one intends the establishment of silver monometallism by law, 
but on the contrary the restoration of a double standard in law. 

But coming down to facts, the doctrine set forth in the silver 
part of Gov. Boies' article is certainly not the doctrine of the 
Chicago platform, nor is it bimetallism at all. The governor does 
not propose to endow silver with the money function as gold is, 
but to receive all the silver that is offered and for it issue paper 
representatives, to be redeemed in silver and gold at their full mar- 



64 THE SILVER SIDE— Campaign Text-Book. 

ket price at the great centers of trade, which can only mean that 
the paper representatives shall be redeemed in silver bullion at its 
market value in gold, which is the same thing as redeeming it in 
gold. The silver bullion so redeemed would go back on the bullion 
market. Is not this virtually the gold standard? 

Monometallism is the endowment of one metal with the money 
function. That is, the metal itself becomes potentially money. 
The quantity of money is then determined by the quantity of metal 
and the weight of coins. Bimetallism is the endowment of two 
metals, gold and silver, with the money function, that is, making 
both money metals ; in that case the quantity of money is determined 
by the quantity of both metals devoted to monetary use. The 
relative weight of the coins of each metal, of the same denomination, 
expresses the ratio at which the two metals go into use as money. 
We now have gold monometallism, that is, one metal only being en- 
dowed with the money function. We will have bimetallism when 
both metals, silver and gold, are alike endowed with the money 
function. 

It has been with no little hesitancy that the author has entered 
this criticism of the good governor's statements of his present po- 
sition on silver; but believing his position to be untenable, directly 
in conflict with the most essential demand of the Chicago platform 
of principles, and believing, as we most sincerely do, that the woes 
of the American people are largely due to the demonitization of 
silver, no expedients, nothing short of absolute and positive re- 
monetization, should be accepted. 

The governor mistakes in attributing the defeat of Mr. Bryan 
to the demand for silver restoration at the ratio of 16 to I. It is true 
that demand caused the union of Gold Democrats and Gold Repub- 
licans; nevertheless, the victory would have been for the right, had 
there not been the greatest frauds, the grossest deception, practiced, 
and the corrupt use of the largest amount of money expended ever 
known in the history of any party. This is fully demonstrated in 
other chapters of this work. 

The people have since 1895 been studying this question; thou- 
sands then opposed, now favor, because better understood, and they 
sorrowfully witness the failure of all the brilliant promises of better 
times, and are now certain, if the gold standard is continued, of a 
further decline in property values, and a nearer approach of the 
agriculturist and laboring classes to European conditions. 

No, no! It would be the very height of folly to commence, or 
even think of, a retreat from the field with the battle half won and 
the foe dividing. Let there be no attempt to change front on the 
battle field. 

"The combat deepens, on ye brave ! " 




ABRAHAM LINCOLN. 

The author, desirous of having absolutely correct portraits, applied 
to Hon. Robt. T. Lincoln for a portrait of his father, the one most satis- 
factory to his family. He kindly replied, sending photograph that the 
family consider the best. Readers of "The Silver Side" may therefore 
rest assured that the above is a truthful likeness of the great emancipator. 



CHAPTER VI. 

THE BUSINESS MAN AFFECTED BY THE SINGLE GOLD 
STANDARD. 

BY JUDGE WM. CONNOR. 

The writer proposes to discuss two propositions, having reference 
more particularly to the conditions which now prevail or which are 
likely to arise in the near future in the United States. These 
propositions are: 

First, that the single gold standard implies under ordinary con- 
ditions a low and gradually declining level of wages and of prices 
for farm products and manufactured articles; and, second, that low 
wages and prices will, all things considered, diminish profits, sharpen 
competition, and finally concentrate business in a few great trusts 
or combinations. 

It should perhaps be suggested that the term "business man" 
is here employed as more appropriately describing the manufac- 
turer and merchant and those immediately associated with them 
in the production and sale of commodities. No doubt the banker, 
the farmer, the railroad or insurance agent, and others engaged in 
industrial pursuits are business men also, but for the purpose of 
this article the term business man will be used in the narrow sense 
indicated above. 

If it should be conceded that the adoption of the single gold 
standard had caused a reduction in wages and in the prices of prod- 
ucts, it would hardly be denied that such reduction had injuriously 
affected business interests in this country. American manufactur- 
ers and merchants rely largely upon the home market; and if the 
purchasing power of the great mass of consumers, the farmers 
and wage-earners, is seriously impaired, how can the business man 
prosper? It may be assumed that nearly all the money received 
by wage-earners and farmers is spent in supplying their wants; any 
sums remaining would go ordinarily to the payment of debts or be 
deposited in the banks. If in a given year the aggregate receipts 
for farm products and for wages are reduced one-half, practically 
the receipts of the manufacturers and merchants for the same period 
must suffer a like diminution. The world lives from hand to 

5 65 



66 THE SILVER SIDE— Campaign Text-Book. 

mouth, and in cases like this the economic cause and effect fol- 
low close upon each other. If the business man desires to pros- 
per in his own field of industry he must support a financial policy 
that will not operate disastrously upon the consumers of the products 
which he manufactures or sells. This conclusion will not be denied ; 
but, it will be asked, is it true that the adoption of the single gold 
standard has reduced the general level of prices and wages? Has 
that policy impaired the purchasing power of the agricultural and 
wage-earning classes? In answering these questions it will be the 
aim of the writer to seek the testimony of experts who have not 
been concerned in party strife or advocates of special interests. 

In 1876, before the "silver question" had become the subject 
of party contention, a commission of nine members was appointed 
by congress to inquire and report "into the change which has 
taken place in the relative value of gold and silver; the causes 
thereof, whether permanent or otherwise; the effects thereof upon 
trade, commerce, finance, and the productive interests of the coun- 
try, and upon the standard of value in this and foreign coun- 
tries." A majority of the commission reached this conclusion as 
to the effect of the single gold standard on prices : 

In all commercial countries the same phenomena are simultaneously 
presented, of falling prices of commodities and real estate, diminishing 
public revenues, starving, poorly paid and unemployed laborers, and rapidly 
multiplying bankruptcies. * * * What the world has witnessed im- 
mediately following a concentrated movement to demonetize silver is 
that fall in prices, ruin of productive interests, and increasing in the ab- 
sorbing power of moneyed capital which could not fail to attend a sudden 
narrowing of the measure of values. Prior to 1873 prices were regulated 
by the general existence of a measure of values consisting of the two 
metals of about equal proportions in the world's stock. To annihilate 
the monetary function of one must greatly increase the purchasing power 
of the other, and greatly reduce prices. 

Senator Boutwell, of Massachusetts, filed a minority report, but 
agreed with the majority as to the point here in question, saying: 

It is no doubt true, also, that the demonetization of either metal adds 
to the purchasing power of the metal retained for use, by diminishing the 
price of every article of merchandise, while it increases the burden of debts 
both public and private. 

Brussels Monetary Conference of J 892. 
At the Brussels monetary conference in 1892, this question was 
fully considered. Prof. Andrews, one of the delegates from this 
country, made this statement: 

A second powerful consideration urges the thoughtful people of the 
United States to try and rehabilitate silver as money of full debt-paying 



BUSINESS MAN AFFECTED BY SINGLE GOLD STANDARD. 67 

power. It is this. They wish to stay that baneful, blighting, deadly 
fall of prices, which for nearly thirty years has infected with miasma the 
economic life-blood of the whole world. 

One of the delegates from Belgium, M. Allard, referring to the 
results of silver demonetization, expressed this opinion: 

That crisis, which has been carefully observed by you for so many 
years, shows itself more particularly in the fall of prices, which acts upon 
agriculture, the manufactures, and the commerce of all nations. 

The British delegates to the Brussels conference were divided 
in opinion, the views of the single gold standard party being 
presented chiefly by Mr. Bertram Currie, a director of the Bank of 
England. His view was thus stated: 

As far as can be ascertained, we are met here to endeavor to raise 
the price of commodities. Such an object is entirely opposed to the 
economic doctrines which are accepted in the country from which I 
come. Cheap goods and not dear goods, plenty and not scarcity, have 
always been held to be the conditions of profitable trade. 

The representative of a great creditor nation, which buys three- 
fourths of its food products and its raw materials for manufactures, 
may support this position with persuasive arguments ; but such argu- 
ments would not be applicable to the conditions prevailing in this 
country, as will be shown further on. Even in Great Britain, the 
views of the industrial and trading classes as opposed to the 
money lending class, were set forth by Sir W. Houldsworth, as 
follows : 

In the first place, I am, from my position and antecedents, more pe- 
culiarly identified with industrial and commercial life than any of my 
honorable colleagues, and I need scarcely stay to remark that it is industry 
and commerce in their widest aspects which are most vitally interested 
in and will be most profoundly affected by the decisions at which this 
conference arrives. 

After thus defining his own position and the special interests 
with which he was identified, he replied to Mr. Currie in these 
words : 

Now, my honorable colleague, Mr. Bertram Currie, has told you that 
"cheap goods, not dear goods," have always been held to be the con- 
dition of profitable trade. How, then, does he account for the fact that 
during the last eighteen years an unprecedented fall in prices has taken 
place (not less than 30 per cent., as measured by seven sets of index 
numbers), and yet there never was a time when, by the testimony of all 
engaged in agriculture, manufacturing, and other trades, confirmed by the 
reports of two royal commissions in England and by investigations else- 
where, the profit-earning power of every industry had more seriously 



68 THE SILVER SIDE— Campaign Text-Book. 

and persistently declined, leading, as such a state of things must inevitably 
and ultimately lead, to irregularity of employment, serious reduction in the 
rate of wages in every department of industry, accompanied by strikes and 
lock-outs and short time? 

The opinions cited are not exceptional, but are generally held 
and expressed by leading European economists. Advocates of the 
single gold standard have not, it is true, conceded that the per- 
sistent fall in prices (which is not denied) is due to silver de- 
monetization alone. They have contented themselves with declar- 
ing that the proposition was not proved, or with pointing out 
specific products the price of which had been reduced by cheaper 
processes of manufacture, or by sharper competition. Making due 
allowance for all cases of that character, the conclusion stands that 
since 1873 there has been a gradual but marked decline in the 
general level of prices, caused by the adoption of the single gold 
standard. This tendency has shown itself more clearly since 1893, 
when silver coinage on private account ceased in India and the 
"Sherman law" of 1890 was repealed in the United States. It 
has been suggested that the decline in wages up to 1893 was not so 
great as in farm or manufactured products. If this be conceded, 
the record of wage reductions subsequently to 1893, and especially 
in 1896-7, will justify all that has been said on that point. It 
has not been possible in the limits allotted to this article to pre- 
sent tables or figures, but they are accessible to every intelligent 
man who cares to know the facts. Indeed, the decline of the 
general level of wages and of prices in the last four years has been 
so obvious and so marked that denial is useless. President Mc- 
Kinley summed the matter up in trenchant phrase when he said in 
1891, referring to ex-President Cleveland: 

He would have increased the value of money and diminished the 
value of everything else — money the master, everything else its servant. 
* * * Cheap coats, cheap labor, and dear money; the sponsor and pro- 
moter of these professing to stand guard over the welfare of the poor and 
lowly. 

The fact that the prices of products and of real estate 
were low and were continuing to decline may have had 
in 1891 a special interest for the "poor and lowly"; but in 
1897 that ugly circumstance is a menace to thousands of business 
men who have invested their fortunes in real estate or in industrial 
enterprises. If it has been shown that the single gold standard, 
in its general operation and effect in a debtor nation like ours, 
necessitates low wages, low prices of products and low real estate 
values, it must be evident to business men that a radical re- 
adjustment of business relations is impending if the single gold 



BUSINESS MAN AFFECTED BY SINGLE GOLD STANDARD. 69 

standard is to be maintained. In the cities and towns of this 
country a very large share of the real estate is owned by business 
men. 

Losses Caused by Decline in Prices. 

It is no exaggeration to say that in the central and western states, 
between 1892 and 1897, city and town property has declined in 
price from 25 to 50 per cent. If that reduction is permanent, what 
will the aggregate loss amount to? And what will be the ultimate 
effect on savings banks, loan companies and other corporations 
whose funds are largely invested in real estate and whose stocks 
are held to a considerable extent by business men? No account 
is taken here of real estate speculators — they are marked as the 
certain victims of the prevailing low prices. The comparison made 
is between what town real estate actually cost in 1892 and prior 
years as compared with what it will now sell for or avail its owner 
as security for loans or debts. 

It may be said that low prices for food products and lower 
rates of wages will cheapen the cost of manufactures; that the 
farmer and wage-earner will recoup their losses by supplying their 
own wants at less expense; and that the usual margin of profit 
to the business man will be worked out in either case. The ques- 
tion is, from the standpoint of the business man, can he, under 
these circumstances, work out his usual margin of profit? 

Suppose the aggregate amount realized from the sale of boots 
and shoes in the United States in 1895 amounted to a little more 
than two dollars per capita, or $150,000,000, and that the total 
cost of the manufactured goods was 50 per cent., or $75,000,000. 
There would remain $75,000,000 to cover expense of handling and 
transportation and the profits of manufacturers and dealers. Sup- 
pose, also, that in 1896 and 1897 the total sales in each year had 
declined to $75,000,000, the cost of the manufactured goods being 
$37,500,000, leaving $37,500,000 for expenses and profits. What 
would be the effect on the men carrying on that business? This 
may be an extreme case, but it fairly illustrates the general effect of 
impaired purchasing power of great masses of people covering a 
considerable period of time, as from 1893 to 1897. 

The first effect would be sharper competition between manu- 
facturers and between dealers, lower prices, and decreased profits 
to all except perhaps the transportation companies. The second 
would probably be the bankruptcy of the weaker concerns whether 
engaged in the manufacture or sale of the products affected. It 
may be assumed that in the struggle for existence the strongest 
would survive; and, according to modern business usages, these 
survivors would combine, organize a trust, limit production to the 



70 THE SILVER SIDE— Campaign Text-Book. 

needs of trade and fix the selling price so as to realize some profit. 
Trusts and combinations are the legitimate children of the single 
gold standard, and appear to be unavoidable if existing business 
conditions are to continue. It may be said, therefore, that a 
third effect upon the business now under discussion would be 
that from one-third to one-half (perhaps even a larger number) 
of those engaged in the manufacture and sale of boots and shoes 
in 1895, would be forced out of business during 1896-7, and 
with them would go their clerks and other employes. The busi- 
ness man who favors this policy should have reasonable assurance 
that he will be one of the survivors. 

What has been said as to a particular line of trade is applicable 
in a large measure to others — it is only a question of degree. 
When for any reason there is a large and continued decline 
in the consumption of products, all those engaged in their manu- 
facture or sale are certain to suffer loss, and many will be forced 
into bankruptcy. If the bill now pending in the senate of the 
United States, authorizing involuntary bankruptcy, should become 
a law, the way will be made clear to eliminate all the weaker busi- 
ness concerns and concentrate the trade of the country in the 
hands of the few which may be able to survive the crisis. 

It may be said, however, that the reduced consumption of 
manufactured products, so marked during the last three years, is 
only temporary, and that normal conditions will soon be restored. 
This suggests the inquiry: Who are the great mass of con- 
sumers? In this country, at least, the answer is obvious: the 
farmers and wage-earners: The measure of the farmer's ability 
to purchase is the sum realized from the sale of his products, less 
taxes, wages paid, and other fixed charges. The measure of the 
wage-earner's ability to purchase is the amount of his wages. The 
total of both is what gave life and stability to business in years 
gone by. That total, reduced perhaps from 25 to 50 per cent, 
in the last four years, finds expression in stagnant trade, loss of 
profits to nearly all business men and bankruptcy to many. 

From a business point of view, therefore, the problems of the 
future are: How can we restore and maintain a higher level 
of prices for agricultural products? How restore wages even to 
the level of four or five years ago? How furnish employment to 
the hundreds of thousands now seeking it at almost any wages? 
The only answers seem to be, by returning to bimetallism and by 
restoring that policy the former level of prices and wages. Prac- 
tically all the money paid out for wages or received for agricultural 
products returns at once into the channels of trade — it is the life 
blood of business. The interests of the business man are so 
closely related to those of the farmer and wage-earner that dis- 



BUSINESS MAN AFFECTED BY SINGLE GOLD STANDARD. 71 

aster to the latter will surely react upon the former; and this 
is especially true where, as in this country, the business man 
relies almost wholly upon the home market. 

It has been already shown (and the proof could have been 
multiplied a hundredfold) that the demonetization of silver in 
1873 caused a fall in prices and in wages in all gold standard na- 
tions. This tendency was arrested in the United States to some 
extent by the two acts of congress providing for a limited coin- 
age of silver and the use of silver notes and certificates. With 
the repeal of the "Sherman law" of 1890, in the fall of 1893, the 
people of this country began more directly to adjust values, prices 
and business to the single gold standard. This adjustment has 
been going on since 1893, with the same results here which were 
noted long before in European nations. The adjustment of values 
and business in Australia to the single gold standard had culmi- 
nated in 1893 in almost universal bankruptcy. Australia and its 
people had been large borrowers; it was a debtor nation, and the 
increased purchasing power of gold money, or (stating the same 
fact in another way), the depressed value of all kinds of property, 
wrought most disastrous consequences. 

It will not be claimed that real estate values, the prices of 
products, or that rates of wages even, have yet been fully adjusted 
to the single gold standard. A lower level remains to be reached, 
but just what that level will be, no one can tell. In the meantime, 
if employment is furnished at all, it is at lower wages. This 
result seems unavoidable, and the employe must accept it or go 
idle. With cheaper labor the manufacturer can produce cheaper 
goods; but the depressed market and sharpened competition elimi- 
nate any substantial profit. The merchant buys his goods at 
lower prices, pays his employes less wages and perhaps lowers his 
rent charge; but he pays the same amount of taxes, the same 
rate of interest on borrowed money, and the same charges for 
transportation; while the total of his sales is greatly diminished, 
he is pressed by active competition into accepting a small margin 
of profit, with a larger percentage of loss in case credit is given. 
At the same time, investments in real estate, or stocks in sav- 
ings banks and loan companies, which a few years ago served 
as a basis for commercial credit, are no longer useful for that pur- 
pose. 

Great Britain's Prosperity. 

It has been said by business men : Great Britain prospers under 
the single gold standard; why may not we do likewise? The as- 
sertion is true only in a qualified sense. The money-lending, 
bond-holding and banking class prosper, but how is it with the 



72 THE SILVER SIDE— Campaign Text-Book. 

industrial and wage-earning classes? No one will deny that in the 
United Kingdom agriculture has been practically ruined. Can we 
afford to destroy or even cripple the agricultural class in the United 
States? Does any one propose to reduce wages in this country 
to the level prevailing in Great Britain? And, if such reduction 
should be accomplished, what would be the effect upon business? 
If, as in England, nearly all business is to be concentrated in the 
hands of a few great corporations or groups of capitalists, what 
will be the fate of the thousands of manufacturers and merchants 
who have heretofore conducted an independent business? Is the 
"department store" one of the results which the ordinary mer- 
chant is seeking to accomplish? 

In the late presidential campaign a large majority of business 
men supported the single gold standard, or supported candidates 
pledged to maintain it for an indefinite time. This policy will not 
be acquiesced in by its opponents, and no doubt the business man 
will again be the decisive factor. A question of such vital im- 
portance may well be re-examined by every patriotic citizen in 
the light of current events. 





WM. McKINLEY, president of the United States, elected in 1896. 
He was born at Niles, Ohio, January 20, 1843. In June, 1861, he en- 
listed in the Twenty-third Ohio volunteer infantry, as a private. He was 
promoted to a lieutenancy, captain, and breveted major for meritorious 
services. After the war he studied law and was admitted to the bar. 
In 1876 he was elected to Congress and was continued as representative 
from his Ohio district until 1891. He was elected governor in 1891 and 
re-elected in 1893. 



CHAPTER VII. 

THE COMING STRUGGLE. 

BY JAMES B. SMILEY. 

The effort to remonetize silver is only a part of the great Demo- 
cratic movement of our time. That movement is not confined to any- 
one nation, for we see it sweeping on in England, France, Germany, 
Belgium, Switzerland, Australia, New Zealand, and in every civil- 
ized country. The most impressive sight in the world today is the 
steady, irresistible growth of this Democratic movement. The 
wisest men are most anxious to know its meaning and tendency. 
It is working like leaven among the people and it cannot be sup- 
pressed. It will not be satisfied with overthrowing the aristocracy 
of birth to put the aristocracy of wealth in its place. 

Concentration of Wealth. 

The marked tendency of the present time to the concentration of 
wealth in the hands of the few is arresting the attention of thought- 
ful men. W. H. Mallock has said that* "The ultimate end of gov- 
ernment is to secure or provide for the greatest possible number, 
not indeed happiness, as is often inadequately said, but the external 
conditions that make happiness possible.'' M. De Laveleye says,f 
"Democracies which fail to preserve equality of conditions, and in 
which two hostile classes, the rich and the poor, find themselves 
face to face, are doomed to anarchy and subsequent despotism." 
The efforts of the wealthy classes to strengthen their power by leg- 
islation attracted the attention of that great friend of the people, 
Abraham Lincoln, and he said: J "I affirm it as my conviction, that 
class laws, placing capital above labor, are more dangerous to the 
republic at this hour than chattel slavery in its haughtiest suprem- 
acy. Labor is prior to and above capital, and deserves a much 
higher consideration." 

The greatest force at the present time working for the concen- 
tration of the wealth of the country in the hands of a few is that 
of special privileges conferred by law on certain men. In 1892 



"Labor and the Popular Welfare," p. 8. 

" Primitive Property," p. 42. 

8ee E. T. Ely in " The Labor Movement," p. 147- 

73 



74 THE SILVER SIDE— Campaign Text-Book. 

the New York Tribune compiled a list of 4,047 millionaires, giving 
as nearly as possible the method by which they acquired their wealth. 
Prof. John R. Commons, of Indiana university, has made a most 
careful and admirable analysis of this list, and he has thus sum- 
marized his conclusions:* 

About 78 per cent, of the fortunes were derived from the permanent 
monopoly privileges, and only 21 per cent, from competitive industries un- 
aided by natural and artificial monopolies. * * * If the size (aggregate 
amount) of these fortunes is taken into account, it will be found that per- 
haps 95 per cent, of the total value represented by these millionaire fortunes 
is due to those investments classed as natural monopolies, and to competi- 
tive industries aided by such monopolies. 

By natural monopolies Prof. Commons means those enterprises 
based on franchises, like street railways, gas works, electric light 
plants, etc., patents, and ownership of real estate. An illustration 
of the way in which certain "competitive" industries are aided by 
these natural monopolies is given by Mr. A. B. Stickney in his book 
on "The Railway Problem," and he says that the "big four" meat 
packers of Chicago owe their success mainly to the fact that the rail- 
road managers gave them special rates on freight, and rebates 
denied to their competitors. He comments on the effect of this re- 
bate system, saying :f 

It takes from the poor and gives to the rich; from the many and 
gives to the few. It does not permit men in the ordinary walks of life 
fairly to compete with one another. At the command of the favorite, it 
drives multitudes of men from their chosen vocations and independent 
business pursuits, thereafter to occupy positions as clerks and employes; 
while the favorite becomes rich they become poor. 

If the railroads were run as the postoffice now is, and the same 
rates were given to all, without giving rebates or showing favoritism 
to any, the power of many of our great monopolies, like the Stand- 
ard Oil Company, would be broken at once, never to be regained. 

Now, as the result of the operation of these forces tending to 
concentrate the wealth of the nation in the hands of the favored 
few, Mr. Chas. B. Spahr has shownj that in the United States "the 
wealthiest I per cent, of the families own more than half of the 
property of the nation." Elsewhere he shows that the richest 1 
per cent, of the people receive about 25 per cent, of the annual 
national income, and 10 per cent, of the families receive about half 
the aggregate national income. 



4 Distribution of Wealth," pp. 252-3. 
' The Railway Problem," p. 225. 
1 Distribution of Property," p. 158. 



THE COMING STRUGGLE. 75 

The Dangerous Class. 

The men who have amassed their fortunes by means of special 
privileges conferred on them by law understand perfectly the source 
of their power, and they are to-day the really dangerous class. They 
are the most demoralizing force to-day at work in American politics, 
for these are the men who bribe our city councils, our state legisla- 
tures and our national congress, seeking by the most corrupt use of 
their wealth to not only retain their present advantages but also to 
acquire still others of a like nature. Now, how can this corruption 
of our politics, which today threatens the perpetuity of our institu- 
tions, be stopped? One method that is proposed by some is to cur- 
tail the ballot, and impose a property or other qualification on the 
voters. This plan, however, will only aggravate the evil. It will 
still further strengthen the power of the proprietary class, which is 
already too great, and it will deprive a large class of citizens of the 
greatest protection they at present have, viz., the ballot. One of 
the most hopeful signs of our time is the tendency in all civilized 
nations to extend the ballot to a larger and larger proportion of 
their citizens. To attempt to deprive any large class of the ballot 
(to exclude a few will do no good) will be a decided step backward. 

It has been said that "the cure for the evils of Democracy is more 
Democracy/' and relief must come from going forward and not 
backward. It is comparatively easy to corrupt a few legislators 
and so control a legislature, but no one can corrupt the whole peo- 
ple, or a majority of them, and instead of curtailing the power of 
the voters the true and effective remedy is to curtail the power of 
the legislatures and increase that of the voters. The best method 
yet devised for doing that is by introducing the Swiss initiative and 
referendum. 

Initiative and Referendum. 

No other reform which can be introduced will do more for the 
people as a whole than the adoption of the referendum. It will 
take the control of the affairs of state away from the privileged few, 
and place where it belongs — that is with the mass of the people. 
It will check the corruption of our legislators, for when they have 
no power to sell special privileges all motive for bribing them will 
be gone. Another great benefit will come from the educational 
influence on the citizens as a whole. The wonderful intellectual 
development of the Greeks at the time of Pericles is often spoken 
of, and historians like Grote and E. A. Freeman say that, taken as 
a whole, their intellectual condition averaged higher than that of any 
other people the world has seen, before or since, and they attribute 



76 THE SILVER SIDE— Campaign Text-Book. 

the result largely to the fact that the Greeks so generally took part 
in the discussions of all public affairs. John Stuart Mill says:* 

As between one form of government and another the advantage lies 
with that which most widely diffuses the exercise of public functions; on 
the one hand, by excluding fewest from the suffrage; on the other, by open- 
ing to all classes of private citizens the widest participation in the details of 
judicial and administrative business; and above all by the utmost possible 
publicity and liberty of discussion, whereby not merely a few individuals in 
succession, but the whole public are made, to a certain extent, participants 
in the government, and sharers in the instruction and mental exercise de- 
rivable from it. 

Certain classes of "business men" cry out against the unsettling 
effects of a general election, but there is one evil far greater than 
that; beyond question it is general and widespread servitude. A 
government run by "business men" would probably be as disas- 
trous a failure as the world has ever seen, and it would soon run into 
the worst kind of plutocracy. No struggle for liberty or the rights 
of men was ever led by, "business men." One reason is because 
they place capital above manhood, and "capital" is proverbially 
timid. 

The Struggle for Freedom. 

The great struggle in which the people are now engaged, and 
which must be fought out in the near future, is between the "masses" 
and the "privileged classes." As the Rev. H. W. Thomas has well 
said, the struggle for freedom may be divided into three phases. 
First, came the struggle for intellectual freedom. The story of 
that struggle is now a part of history, and all are familiar with it. 
All know how men were confined in dungeons, tortured on the rack 
and burned at the stake, but the battle was finally won, and now in 
the civilized nations of the world thought is free. 

The second phase was the struggle for political freedom. That 
struggle is also part of history, for in democratic countries like the 
United States and Switzerland, where all men have the ballot, the 
battle is practically won, for, in theory at least, all men are equal 
in the eyes of the law. By the use of the ballot the people are free 
to express their will, and direct the policy of their government. 
Some reforms are yet needed before our government will be a com- 
plete democracy. We now have a representative government, in- 
stead of a complete democracy, and the powers of the representatives 
must be curtailed and the people must have a more direct voice in 
controlling their affairs, by introducing the Swiss initiative and ref- 
erendum, before we shall have complete political freedom; the tem- 
per of the people will soon force the granting of these reforms. 

♦"Representative Government," pp. 109-10. 



THE COMING STRUGGLE. 77 

The third phase of the struggle will be the battle for industrial 
freedom, and that battle is yet to be fought. So far as the welfare 
of the people is concerned this last great struggle will be of inesti- 
mable importance. The first skirmishes in that tremendous strug- 
gle are now taking place, and the battle for the coinage of silver is 
one of them. The cry has been raised of ''equal rights for all, and 
special privileges for none." Nothing less than this will satisfy 
the demands of justice, and as it has been said that "reforms never 
go backward," the battle can never stop until this is attained. There 
may be — will be — lulls in the fight, and the center of action may shift 
from point to point, but the war will go on, and the struggle will 
never stop until the victory rests with the people. The masses of 
the people have had a taste of freedom, and they will not be satisfied 
— they ought not to be — until perfect freedom is attained. The call 
now is for those who desire to establish a really "free" government, 
to combine their forces and work unitedly, intelligently and persist- 
ently for that end. By corrupting legislatures the will of the people 
may be defeated. When we get "direct legislation" through the 
initiative and referendum, that can not be done. 

The Great " Special Privilege.'* 

The one who controls the money of the people to a large extent 
controls the welfare of the people. The effort to make "the govern- 
ment go out of the banking business," as it is called, and confer on 
the banks the privilege of issuing the money for the people, is only 
another attempt to confer on a favored class a "special privilege" of 
inestimable value. If that privilege is once granted it will further 
increase the power of the "privileged classes," and some day another 
great struggle will inevitably occur to recover for the people the 
right unwisely given away. It is time the policy of conferring these 
special privileges on favored classes was stopped, and the sooner it 
is stopped the better it will be for the masses of the people. The 
government must regain and retain the right to issue all the money 
used by the people. The battle to do that has begun, and here the 
struggle must go on. The victory may be postponed, and tempo- 
rary defeats there may be, but great questions of justice like this, 
when once raised in the world, are never settled so that they will 
stay settled, until they are settled right. The power of the monied 
class is tremendous, and its resources are almost without limit, but 
the issue must be faced, and the people should know where their 
true interest lies. The legislative power has always been largely in 
the hands of the aristocracy and the wealthy classes, and they have 
always used that power to enrich themselves, and to place heavy- 
burdens on the backs of the people. Speaking of the poverty of the 
English laborers, Prof. Thorold Rogers says: 



78 THE SILVER SIDE— Campaign Text-Book. 

The pauperism and degradation of the English laborers were the 
result of a series of acts of parliament and acts of government, which were 
designed and adopted with the express purpose of compelling the laborer 
to work at the lowest rate of wages possible, and which succeeded at last 
in effecting that purpose. 

The ruling classes are always much the same, and the struggle 
today is the same as that which has been going on for centuries. 
"Eternal vigilance is the price of liberty," said Patrick Henry, and 
"vigilance" was never more urgently needed than today. Voters, 
what will you do? Fight for the liberties of yourselves and your 
children, or submit to the imposition of grievous burdens which are 
hard to bear? The time to act is coming. Give us your answers 
at the polls. No man deserves freedom who will not strive for it. 




E. M. CARR, secretary Iowa Democratic State Committee, and 
one of the most effective state workers, was born in Cattaraugus County, 
New York, in 1850. When six years old he came with his parents to 
Iowa. He graduated from the law department of the Iowa State Univer- 
sity before attaining his majority, and located in Manchester, where he 
has since been successfully engaged in practice. He has been active 
in politics, identified with the Democratic party. Young, active, aggres- 
sive, earnest, intelligent, honest and faithful, he is admirably equipped to 
aid in carrying the four years' presidential campaign through a successful 
issue in 1900. 



CHAPTER VIII. 

THE TREND OF PRESENT CONDITIONS. 

BY HON. E. M. CARR, SEC'y STATE DEMOCRATIC COMMITTEE OF IOWA. 

It is my purpose to dwell chiefly upon the objectionable features 
of my subject, but in so doing I trust that what I may say will not 
induce any one to think that I am naturally inclined to look only 
at the dark side of affairs. The contrary comes much nearer being 
true, for I am inclined to believe that most all events are ordered 
for the best, and that the sufferings of humanity in the past were 
permitted so that great object lessons might not be wanting to 
guide the race to a brighter and better future. I shall refer to the 
failures and sufferings of humanity under the feudal system, and 
ask you to use them as guides to lead you away from the dangers 
of the present. 

Almost every one, who has any business or avocation at all, is 
either a producer of wealth, a dealer in wealth, or a gambler in 
wealth. 

At the head of the wealth producing class stands the farmer and 
stock raiser. He not only makes two spears of grass grow where 
but one grew before, but in nearly everything that he does he 
adds to the world's permanent store of wealth. 

The mechanics and artisans come next. They are great wealth 
^producers. They take raw materials and work upon them until in 
some instances their values are increased a thousandfold. 

The miner who delves in the earth and forces it to yield up its 
hidden treasures is also entitled to a front rank in the wealth 
producing class. And, if knowledge is property as well as power, 
the thinkers and students are, in the truest sense of the term, wealth 
producers. And so are the teachers, and every one engaged in 
the spreading of knowledge, for what's the good of unknown good? 

Gamblers in Wealth. 
I have no fault to find with legitimate dealers in wealth, like 
merchants and bankers. They pursue very necessary and laudable 
callings, but they cannot rightfully claim precedence over the 
country's wealth producers. The class that adds to the country's 
wealth in times of peace, and is its chief defender in times of war, 

79 



80 THE SILVER SIDE— Campaign Text-Book. 

should stand first in every proper calculation. It was the hardy 
frontiersman of Kentucky and Tennessee who went down to New 
Orleans with Jackson in 1815, and on the battle field at Chalmette 
defeated the best army that Europe ever produced. 

And again, a half a century later, armies composed mostly of this 
same class of men carried our starry banner from Cairo to New 
Orleans and from Atlanta to the sea. 

Can a government prosper as it should when the rights and 
interests of this great wealth producing class are subordinated to 
the schemes of the gamblers in wealth? 

The gamblers in wealth produce nothing of value. They specu- 
late, and corner, and squeeze and fleece, but there is no more 
property in the country when they finish their operations than there 
was before they commenced. On places called boards of trade 
they go through the fiction of buying and selling things they never 
owned. They call each other bulls and bears; they thrive most 
when people generally are in want, or when some public calamity 
unsettles business; they often devise schemes to bring about panics 
and hard times that their opportunities may thereby be increased. 
They are organizers of the modern conspiracies against legiti- 
mate trade, called trusts, but they, themselves, are not new in the 
world's history. They are the modern representatives of the men 
who were driven out of the temple nearly 1900 years ago. 

I say frankly that, as a class, they come pretty near being 
public enemies, and their influence in public affairs is increasing 
at an altogether too rapid rate. 

Perhaps you may think that it is not right for me to make this 
attack, but I feel morally justified in saying all that I have said. 
There is no merit in their contention that the man who attacks their 
practices is arraying class against class. The man who writes a 
history of the struggles between the classes comes pretty near 
writing a history of the world. 

What class brought forth from the wild bosom of the woods and 
prairies, in less time than the life of a single human being, this 
empire of the Central West? There is no good reason why the 
sons and daughters of these men should not be as independent and 
self-reliant as their parents were. 

Nations prosper while the independence of their wealth pro- 
ducers is maintained. Nations die when their wealth producers 
become serfs and vassals, the fruits of whose labor pass into the 
hands of a rich and favored few. 

Against the Wealth Producer. 

The trend of present conditions is against the wealth producer. 
He is losing his proper influence in public affairs; little by little his 
individual independence is being crushed out, and little by little the 



• THE TREND OF PRESENT CONDITIONS. 81 

development of his individual faculties and human character is being 
circumscribed. 

Not many years ago the great majority of wealth producers 
owned their own homes and were their own masters. The farmer 
may then have cut his grain with a cradle made in the shop at the 
cross roads, and his wife and daughters may have spun the yarn 
and made the cloth with which the family was clothed, but all hands 
were independent and all felt a keen interest in public affairs. They 
owed allegiance to their government only. 

A half century ago, probably a majority of the common carriers 
of the country were proprietors of stage coaches, or wagons of some 
kind used for the conveyance of goods and passengers. These 
men owned the business in which they were engaged, and did not 
have to depend upon any master for employment. 

What a great change a few years have wrought! Today hun- 
dreds of thousands of men are employed by a few corporations. 
The men are like cogs in a great machine. Free will is being 
crushed out by these conditions, and passive obedience, with little 
hope of rising in the scale of responsibility, is the lot of a rapidly 
increasing number. 

In the large factories the employes are not taught how to make 
and finish any completed article. Each man makes some particular 
piece, and others assemble these pieces. The men are like the ma- 
chines with which they work, valuable in the manufacture of a 
particular thing, but not able to do anything else, except, possibly, 
to enlist in the army of tramps. 

Conditions bode evil when their trend places a few in positions 
of authority over very many. In this connection just think of the 
army of railroad men subject to the direction of a score of railroad 
presidents. It is doubtful whether an equal number of feudal lords 
ever held in their hands the destinies of an equal number of homes. 

The student of history who is familiar with the human suffering 
caused by the domination of the few over the many can find much 
in our changing conditions not calculated to benefit the nation or 
the masses of its people. 

Of course no one should find any fault with the legitimate 
business of railroading, because it is one of the grandest features 
of our country's development. The trouble with our railroads is 
their Wall street attachment, or connection. In some way the 
baneful influence of the gamblers in wealth predominates in the 
management of many railway corporations, and in that way tens 
of thousands of wealth producers are made dependent for their daily 
bread upon the will of a few heartless speculators. The trend of 
present conditions in that direction is anything but reassuring to the 
thoughtful citizen. 



82 THE SILVER SIDE— Campaign Text-Book. 

Under the feudal system, with its law of primogeniture, its en- 
tailment of estates, its attainder of blood and other schemes, the 
few were enabled to lord it over the many. When the founders 
of this government drafted our organic laws they guarded, as well 
as they could, against the evils of feudalism. The unjust privilege 
of giving the entire estate to the eldest son was generally abolished. 
In Iowa the law prohibits the entailment of estates for a longer 
period than the life of persons living at the time of the grant and 
twenty-one years thereafter. And the federal constitution prohibits 
the attainder of blood, the depriving of children of any of their 
rights on account of the crimes of their ancestors But, while 
these old schemes for the enslavement of the masses have been 
carefully guarded against, our changing conditions are opening 
new doors for the accomplishment of similar results, results fraught 
with just as great powers for evil as the feudal schemes ever 
possessed. 

Let me briefly describe the feudal system which prevailed in 
nearly every country in Europe for several centuries, and is not 
yet wholly extinct. 

The Feudal System. 

The first or primary thought was the founding of a system 
of government upon land. The king owned all the land, and he 
built his government in this way: He divided his country into 
certain parts, the same as a general would divide an army into 
divisions. In fact, the feudal system was more like a great military 
organization than a system of civil government. If feudalism pre- 
vailed here, the king would quite likely give each state to a feudal 
lord, and bind his several lords to furnish him with a certain sum 
of money each year, and with a certain number of men for his 
army in the event of war. These lords, by virtue of their positions, 
would become the division commanders of the king's army, and, 
also, the civil governors of the states. They, in turn, would follow 
the example of their king and give the districts of their states to 
their dukes, or brigadier generals, in return for certain annual rents, 
and the services of a brigade of soldiers whenever called for by the 
lord. This feature would be carried down through the several 
smaller geographical subdivisions of the country, as far as military 
or civil officers were required. 

Now you can understand what gave rise to the law of primo- 
geniture, why the eldest son inherited the whole estate. Suppose 
there was a captain required for every township, then some certain 
captain would own the land of each township, not own it exactly 
as we own our lands, but be entitled to its use as his pay or salary 
for the office or position he held. On his death the office of 
captain could not be divided up among his several sons, for only 



THE TREND OF PRESENT CONDITIONS. 83 

one captain was required. The eldest son, being able most likely to 
fill his father's place, inherited the office and estate to the entire 
exclusion of the other children. 

Under this system the great mass of wealth producers became 
dependent upon others, and the darkness of what is known as the 
middle ages settled down upon Europe. The people were chained 
to the land like chattels, and oppression of the masses, human 
suffering and terrible want were the results of the system. Some of 
the injunctions issued by inferior federal courts against railway em- 
ployes during the past few years had almost exact counterparts in 
the first stages of feudalism. 

In feudal times the learned barrister sought the patronage of 
the feudal lord, and assisted in the creation of that legal juggernaut 
of the middle ages. The lord's patronage gave him wealth and a 
sort of social standing which many seemed to desire. Today a 
certain class of men, learned in the law, are following in the foot- 
steps of the barristers of old. They are anxious to become the 
salaried employes of trusts and gambling corporations, willing, for 
a certain consideration, to help build up in this country a worse 
system of vassalage than ever cursed humanity in any age. 

Under the feudal system the rich and favored few were con- 
stantly striving to secure exemption from governmental burdens. 
Again history is repeating itself. Only a short time ago the highest 
tribunal in the land reversed itself and its precedents of one hundred 
years to exempt from income taxation the wealth of the fortunate 
few. 

But there is another feature of our changing conditions of which 
I wish to speak. It is the growing disposition of our metropolitan 
press to belittle and ridicule the wealth producing class. I have 
no recollection of seeing a decent picture of a farmer in one of these 
publications in recent years. The farmer is generally referred to 
as a "hayseed," and pictured as an uncouth individual, with long 
whiskers, and numerous patches on his wearing apparel. 

Many of the writing vassals of these rich newspaper corporations 
never possessed a tithe of the true manhood of a stalwart farmer 
or mechanic. Too often do they fawn at the feet of wealth and 
power, and betray the best interests of their country for their daily 
bread. 

Wealth producers could well afford to let the ridicule of the city 
press pass unnoticed were it not tending to build up a public 
sentiment, in some parts of the country, adverse to their substantial 
rights. But when speculating pew holders of fashionable churches 
begin to proclaim their superiority, and even ministers of the gospel 
join in the attack, it is time to protest. I do not know when I have 



84 THE SILVER SIDE— Campaign Text-Book. 

heard anything that affected my feelings like the utterances of an 
Omaha bishop during the recent campaign, who said: 

The trouble with the farmer, in my judgment, is that we have carried 
our free educational system too far. * * * The farmers' sons — a great 
many of them — who have absolutely no ability to rise, get a. taste of educa- 
tion and follow it up. * * * They become dissatisfied to follow in the 
walk of life that God intended they should, and drift into our cities. 

When I considered the full meaning of these cold-blooded 
statements, and then thought of the little farm away back in New 
York state where I was born, of the kinspeople I left upon the farms 
among those hills, of my brothers and sisters still working on farms, 
I confess that it made the blood run down through my arms like 
boiling hot water. 

Just think of it, a minister of a fashionable church talking about 
God's intention to keep farmers in certain walks of life, and that 
education was unfitting them for their intended sphere! Can just 
complaint and discontent be allayed by abolishing our public school 
system? In this age of changing conditions, wealth producers must 
maintain their rights or they will be overborne. 

Our changing conditions have given designing men their op- 
portunities, and I blame the conservatism of the law, or rather its 
incompetency, for the trend of present affairs. Courts and legis- 
latures stand nerveless before the operator who seizes in some new 
diabolical way a million that never belonged to him, but they know 
all about how to deal with the poor unfortunate who happens to 
purloin a few shillings. 

But I have faith that the American people will not allow their 
conservatism to give the gamblers in wealth much more of a 
start than they now have. Thus far the gambling class has defied 
nearly every restraining law that has been enacted. But the people 
who produce the country's wealth are yet vastly in the majority, and, 
while many of them are already in the dependent list, I feel con- 
fident that a halt will soon be called to the present trend of chang- 
ing conditions. 




WHARTON BARKER, of Philadelphia, is the editor of 
The American, which, if not the best, is one of the very 
strongest and best weekly papers opposing the single gold 
standard. In 1896 he published that splendid work, "Bimet- 
allism," unequaled by any other treatise on the subject. The 
author has no data that enable him to give Mr. Barker's per- 
sonal history, but we know him to be a live hardworking man, 
trying to make the world better. He is also the author of 
some of the best of the many good things found in "The 
Silver Side." 



CHAPTER IX. 

INDUSTRIAL SLAVERY AND THE SALE OF THE RE- 
PUBLIC—THE ROAD TO EMANCIPATION AND 
REDEMPTION. 

BY WHARTON BARKER. 

On the 3d of November, 1896, gold triumphed. The power 
of money proved itself to be greater than the power of men and 
the American people submitted to the dictation of aliens and those 
with alien interests as to our financial policy, they surrendered their 
claim to freedom from foreign subserviency and to independence of 
action, they suffered the welding around their necks of the yoke 
of gold that needs must grind them down to poverty, stamp out the 
spirit of enterprise and enchain them as the slaves of poverty to an 
oligarchy of wealth. That the submission of the American people 
to the money cliques is final, that the spirit of independence will be 
so crushed out by poverty during the coming four years as to make 
further resistance to the encroachments of the moneyed oligarchy 
that is now being built up on the impoverishment of our producing 
classes out of the question, patriotism, love of humanity and im- 
plicit trust in the goodness of the Infinite bid us deny. 

Therefore we cannot regard the recorded verdict of the American 
people as final. It is at least the duty of all those who see the en- 
croachments of centralized capital to strive to bring about a reversal 
of that verdict and make every possible sacrifice to defeat the ulti- 
mate enslaving of our producing classes to a moneyed oligarchy. 
The possibility of success in those efforts may seem slim, the history 
of the rise and fall of empires may hold out little promise of victory, 
the position of those who are striving to enslave the toiling millions 
for their own enrichment may appear to be impregnable, the eman- 
cipation of our producing classes from the thralldom of industrial 
slavery that confronts them may seem impossible of attainment, but 
where duty calls, men must follow. 

That the money cliques have been more firmly entrenched than 
ever by their victory we are bound to admit. What the future has 
in store for our people we cannot venture to predict. But one point 
stands out clearly. It is the manifest duty of all who believe that the 

85 



86 THE SILVER SIDE— Campaign Text-Book. 

welfare of our producing classes, their very existence as men of inde- 
pendent thought and action, and the preservation of individual lib- 
erty, and our republic is imperiled by adherence to the appreciating 
gold standard and general submission to the dictates of a rapidly 
growing moneyed oligarchy, to strive strenuously, and without 
thought of personal sacrifice, to bring about a reversal of that re- 
corded verdict which decrees the impoverishment and ultimate 
enslavement of our producing classes to a moneyed aristocracy. 

Our republic rests upon the independence of the individual. De- 
prive that individual of liberty of thought and action, make that 
thought and action subservient to another's will, and the republic 
falls. Reduce our producing classes by the path of poverty to' sub- 
serviency to a moneyed oligarchy and the republic may for a time 
continue to exist in form, but its existence as a reality will have 
passed forever. And it is along this high road to destruction of our 
grand republic that our producing classes are rapidly passing. 
Wedded by the success of Mr. McKinley to a continued adherence 
to the policy of gold-monometallism, that must needs grind down to 
poverty all those engaged in the production of wealth, our steps 
are directed for, perhaps, four years to come, towards the enslave- 
ment of our producing classes, the destruction of individual liberty 
and the overthrow of our republic. The salvation of the republic, 
aye, of western civilization, depends upon the retracing of those 
steps which we are now consigned to take. To a retracing of those 
steps at the earliest possible moment we must direct our energies. 

Enslavement of the "Wage Earner, 

Poverty causes the wage-earner to lose independence of political 
action. We witnessed it in the last campaign. We have seen the 
wage-earner constrained by poverty to do the bidding of the em- 
ployer beyond the walls of the workshop, as well as within, and 
when the wage-earner becomes a mere tool of centralized capital, 
even to the extent of voting an increased tribute laid by such organ- 
ized capital on labor, the republic is lost. 

When industry yields remunerative profits, the employer of labor 
finds incentive to enlarge production; he has every need of additional 
hands to extend the output of mill and factory, and the wage-earner 
finds no difficulty in securing work. With the knowledge that, if 
dismissed, he can readily secure work elsewhere, the wage-earner is 
his own master, he will surrender neither liberty of thought or polit- 
ical action at the dictation of his employer, he will defend and pre- 
serve his freedom and independence. But possessed with the knowl- 
edge that dismissal means enforced idleness, such as must needs, in 
the absence of savings, bring him face to face with privation and 
suffering, he becomes the tool of his employer, at whose mercy he 



INDUSTRIAL SLAVERY AND THE SALE OF THE REPUBLIC. 87 

is placed. Just to the degree that work grows slack, the fear of dis- 
missal grows upon the wage-earner, and, as this fear grows, he 
becomes more and more subservient to the dictation of his employer. 

Threatens the Overthrow of Our Republic. 
Thus it is that, as industry grows unprofitable and production is 
curtailed, the wage-earner is thrown into the power of centralized 
capital and loses his independence of thought and political action, 
for when production is curtailed the difficulty of securing a job 
grows greater, and the wage-earner, knowing that dismissal will 
bring him face to face with starvation, fears to move counter to the 
dictates of centralized capital as expressed by the employer of labor, 
who, himself in the clutches of centralized capital, is a mere task- 
master driven by a higher power. So it is that the appreciating gold 
standard, undermining as it does the profits of industry, and driving 
producers into> combines and trusts designed to restrict production, 
is leading irresistibly to the enslavement of our producing classes 
and the overthrow of our republic. 

Rome as a Warning. 
Through the centralization of wealth in a few hands and the im- 
poverishment and ultimate enslaving of the many, the Roman re- 
public fell and Roman civilization was destroyed. Along the paths 
that led to Rome's downfall we are passing with rapid strides. It 
was an appreciating measure of value that made it possible for the 
few to enjoy the fruits of the toil of the many, and led to the cen- 
tralization of wealth in Rome twenty centuries ago. It is an appre- 
ciating measure of value that makes it possible for the few to enjoy 
the fruits of the toil of the many and wax fat on the impoverishment 
of our producing classes today. This transference of wealth from 
the producers of wealth to those who live in idleness and luxury, 
an idleness made possible by the appreciation of gold and the en- 
joyment of unearned gains, is undermining the manhood of our pro- 
ducing classes, destroying the spirit of enterprise and resistance to 
encroachments on the rights of our people and imperiling the exist- 
ence of our republic and civilization in the same way as similar 
causes imperiled the existence and finally destroyed the Roman 
Empire and Roman civilization during the early centuries of the 
Christian era. 

The Party of Property Rights and Human Slavery. 
The Republican party was born as the party of human rights; 
it has degenerated into the party of property rights and human 
slavery. Called into being in response to the irrepressible growth 
of the belief that human rights are superior to vested rights of prop- 
erty, it has fallen from its high ideal. In pursuit of this high ideal, 



88 THE SILVER SIDE— Campaign Text-Book. 

with the advancement of which is bound up liberty and human 
progress, the Republican party broke the shackles that bound four 
millions of negro slaves; it is now engaged, unseen but not unfelt, 
in welding the chains of industrial slavery around seventy millions 
of people — freemen in name, but fast becoming the slaves of pov- 
erty. 

As we have said, a man dependent on his employer for his daily 
bread, without savings to fall back upon and fearing dismissal, 
knowing not where to find his sustenance if deprived of the pittance 
proffered by his employer, is a freeman only in name. Face to face 
with the unwelcome truth that dismissal means privation and suf- 
fering, not alone for self but for all those dearest to the godly man, 
the heart of the stoutest toiler sinks within him. And as this appall- 
ing truth dawns upon the wage-earner, fear of dismissal grows, and 
as this fear grows the erstwhile freeman, independent in thought 
and action, the bulwark of liberty and republican institutions, bows 
down before his employer — impelled by the fear of losing the only 
opportunity open to him to earn his daily bread, to serve his em- 
ployer as an abject slave. 

The Slave of Poverty. 

This is the slave of poverty that the Republican party, in pur- 
suit of policies, aimed wittingly and unwittingly at the aggrandize- 
ment of the few at the expense of the many, now calls into being. 
And the hardships before this slave of poverty are infinitely greater 
than the hardships of the negro slave whose emancipation the Re- 
publican party, in its youth, bent all its energies to achieve. The 
master of the negro slave had a regard at least for his bodily weal. 
The task-master of the slave of poverty ministers not to his bodily 
sufferings. The slave owner coming in close touch with his slaves, 
seeing their discomforts, unable to close his eyes to their suffer- 
ings, was prompted by motives of humanity to promote their weal 
and happiness. Slave drivers there were in whose natures feelings 
of compassion had no place, but even their cruelty toward their 
slaves was tempered by the knowledge that to get work and profit 
from their slaves they had to keep in a condition of physical well- 
being the men whom they regarded as mere human tools. 

But the task-master of the slave of poverty knows no motives of 
humanity, acknowledges no motives of self-interest such as would 
prompt him to minister to the weal of the slaves he drives. The 
employer of today comes in touch with his workmen, he feels with 
them in their trials, he would alleviate their trials in many cases 
if he could, but how often is this quite beypnd his power! In few 
instances is the employer of today who comes in contact with the 
wage-earner and sees and understands his sufferings the real em- 



INDUSTRIAL SLAVERY AND THE SALE OF THE REPUBLIC. 89 

ployer. He is too often the mere employer hired by the true em- 
ployer, the mere task-master employed by those who neither see 
nor care for the sufferings of the human tools being used for their 
enrichment. So it is that the task-master of the slave of poverty 
can know no motives of humanity in dealing with what not he, but 
his employer, regards not as human beings, but as mere tools to be 
used in the accumulation of wealth. For this hired task-master to 
take into account the sufferings of those he is hired to drive, for 
him to be guided by a desire to promote their weal, is to earn his 
dismissal. So the motives of humanity do not enter into the rela- 
tions between the modern task-master and the slave of poverty. 

And if we turn to the motive of self-interest that prompted the 
owner of the chattel slave to look after the comfort, health and 
strength of the slave as adding to the value of his property, we find 
such motive lacking in the task-master of the industrial slave of 
today. If from want of sufficient sustenance the negro slave was 
unable to fulfill his allotted task the slave owner was the loser, but 
if from want of sufficient nutriment the industrial slave of today is 
unable to keep up with his task, the task-master of today stands no 
loser, he merely withholds the pittance doled out to the slave of pov- 
erty fallen by the wayside and gives it to another slave to poverty 
only too ready to run the same hopeless race. In a word, the place 
of the industrial slave who has fallen is filled by another, and the 
task-master of today gives no further thought to the slave of poverty 
who has fallen a victim to the hardships entailed by industrial 
slavery. 

Nor is the home of the slave of poverty freer from danger of 
disruption than the home of the chattel slave. Poverty disrupts 
family ties no less surely than the auction block. In truth the 
slavery that confronts our producing classes is blacker than chattel 
slavery in its darkest form. It has yet to fall on our industrial 
classes with full intensity as it fell on the tillers of the soil during 
the decline of the Roman Empire. The sufferings of our producing 
classes in the first step toward industrial slavery are but an inkling 
of what may come, and what will surely come unless we overthrow 
those causes which are grinding down our toiling millions to pov- 
erty and building up an oligarchy of wealth on the impoverish- 
ment of our producing classes and upon the property of which they 
are being despoiled. 

Republican Party as the Tool of Oligarchy. 

To overthrow these conditions is the duty of the party of liberty. 

The party that had its birth in the triumph of human over property 

rights and that rested its claim to suffrage on perception of the great 

fundamental truth that republican institutions rest on the liberty of 



90 THE SILVER SIDE— Campaign Text-Book. 

the individual, in thought and action, should have made the over- 
throw of those conditions that grind down the industrious to poverty 
and ultimate slavery its duty. If it had done so, the Republican 
party would have been fulfilling a career of usefulness; it would 
have been worthy of the martyred president under whose leadership 
the party's power for good was crystallized. But we find no longer 
in the Republican party the champion of human rights. It has be- 
come the tool of the task-masters of the slaves of poverty; it has 
become the instrument of the fastening upon our industrial classes 
of policies dictated by those interested advocates of property rights 
who have lost sight of human rights, and it is responsible for the 
resulting conditions, that, through steps of industrial stagnation, 
have built up the idle army of unemployed that hangs ever before 
the employed as a warning to do the bidding of capital under pen- 
alty of the loss of daily bread, together with the chance of earning it. 

Growth of the Army of Unemployed* 

The loss of the receipt of daily bread from one employer has no 
terror to the wage-earner unless the loss of the chance to earn daily 
bread from other employers goes with it. So in times of prosperity, 
when business is active and employers seeking additional hands, 
the wage-earner fears not dismissal, for if he loses the chance to 
earn his daily bread at one place he can readily get a chance to 
earn it at another. But when he sees an army of unemployed seek- 
ing work he fears dismissal, for an army of worthy toilers unable to 
find work is unmistakable evidence to the employed that the chance 
to earn daily bread does not stand open to those who seek it. 

What, then, is it that has made employment slack and caused 
the formation of an army of unemployed? It is the existence of 
this army of unemployed that takes the courage from the employed, 
that breaks the spirit of the wage-earner, that causes him to throw 
over liberty of thought and action when he fears avowal of such inde- 
pendence will cause him loss of place. 

In the conditions that have brought about the formation of this 
idle army we find the seeds of industrial slavery. So it is of primary 
importance to ferret out these conditions and discover and remedy 
the causes of such conditions. The immediate cause of the building 
up of the idle army is clear enough. It is lack of employment. The 
cause of the lack of employment is equally clear. It is the unprofita- 
bleness of industry, the want of profits to manufacturer in running 
his mill, to farmer in cultivating his fields, to miner in developing 
his mines, and, consequently, the lack of incentive to extend pro- 
duction. 

And if we ask any producer, whether farmer, manufacturer, or 
miner, the reason for the falling away of profits in production, we 



INDUSTRIAL SLAVERY AND THE SALE OF THE REPUBLIC. 91 

will get the answer: falling prices, falling prices due to a curtailed 
market or to crushing competition. 

Silver Demonetisation the Cause of Falling Prices* 
So we come back to falling prices as the reason for the existence 
of the idle army. But we are not yet back far enough. We must 
go back until we discover the cause of the disastrous and continuous 
fall in prices and the remedy. This fall we find not in the lessening 
in the labor cost of production, but in dear money, in a lengthening 
of the monetary yardstick in which we measure prices. So we have 
got a dear dollar to deal with. What has made it dear, what has 
caused our monetary yardstick to grow dishonestly long? Evi- 
dently one of two things must have happened. The demand for 
money must have increased, or the supply of money fallen off. And 
if we look into the monetary history of the past quarter of a century 
we will see each of these causes has had something to do in making 
the dollar dearer. We have restricted the supply of money by dis- 
carding silver, while with the growth of population and the devel- 
opment of the world — a development checked in all gold using 
countries by the growing dearness of money, as evidenced by com- 
parison with silver using countries — the demand for money has 
gone on increasing, so that relations between the supply of and 
demand for money, which to the western world has been gold, have 
been changed in the direction of the demand outrunning the supply, 
and, just as is the case with any exchangeable thing, such change 
has resulted in causing gold to grow dearer. 

So we come down to the ultimate cause of falling prices, the 
restriction of the western world's supply of money to gold to the 
exclusion of silver, an exclusion brought about by legislation closing 
the mints of silver coinage save on government account. Having 
thus found the cause for the existence of the idle army, we have not 
far to look for the remedy that will remove it. Obviously, that 
remedy is the restoration of silver to its place as money. 

Must we "Wait on Great Britain. 
But we are told we cannot get bimetallism without the assistance 
of those who directly profit from falling prices, that we must main- 
tain the gold standard until we can get the aid of those who profit 
from falling prices in the overthrow of that system from which they 
reap unearned gains. In short we are to wait for the consent of 
Great Britain, the great creditor nation of the world, ere we take any 
steps toward restoring bimetallism. The one purpose of restoring 
silver to its place as money is to cheapen gold, thereby check the fall 
in prices and inaugurate a rise, and, to a rise in prices, the creditor 
classes of Great Britain are steadfastly opposed. 



92 THE SILVER SIDE— Campaign Text-Book. 

In falling prices they see their direct gain. Holding the debts 
of other peoples to immense amounts they have striven persist- 
ently to enhance the value of gold and depress prices in order 
that the purchasing power of the moneys they receive as inter- 
est and principal may be increased. The farther prices fall, they 
reason, the greater will be our command over the products of 
other's labor the greater will be the share of the products of 
labor, which the producers of wealth will have to surrender to 
us in satisfaction of our claims, and consequently the greater will 
be our enjoyment of the fruits of others' toil. 

Reasoning thus, the British creditor classes see no reason why 
they should aid in the re-establishment of bimetallism with a 
view to raising prices. Far from taking steps to raise prices, 
their selfish interests prompt them to force down the prices of 
those things which their debtors send them in payment. 

The interests of the creditor classes of Great Britain are im- 
mense, and these classes have shown themselves again and again, 
of late years, to be the power behind the throne. The agricultural 
classes of England have been ruined, the cotton spinners of Lanca- 
shire have suffered grievous losses, the Cornish tin miners have been 
impoverished by the steady fall in prices. But the creditor classes 
have remained serenely inactive, waxing fat and prosperous, even 
as the material prosperity of the British people has been under- 
mined, and steadfastly put down their foot on any action on the 
part of the British government that has even so much as squinted 
at the restoration of bimetallism, for bimetallism has in view 
a check to the fall in prices, and a check to falling prices is 
the thing farthest from their wish. The more bushels of wheat 
and pounds of cotton they can buy with the dollars and rupees 
and pesos due them by their debtors, the better satisfied they are. 
To the sufferings of the British producing classes they pay no 
heed, it is sufficient to them that they find themselves growing 
richer as prices fall, and that they are powerful enough to direct 
the policy of the British Government so as to best promote their 
interests. 

Why Great Britain Champions Gold. 

Considering the immensity of their interests and the sum at 
stake, it is not surprising that the creditor classes of Great Britain 
should be all powerful in directing the policy of that nation. The 
rest of the world is in their debt to a sum variously estimated at be- 
tween ten and twenty billion dollars. At just what figure to 
place it, whether at the minimum of ten billion, or the maximum 
of twenty billion, it is hard to say. There is no means by which 
we can tell with definiteness. But we have one guide which en- 
ables us to approximate the vastness of this indebtedness. 



INDUSTRIAL SLAVERY AND THE SALE OF THE REPUBLIC. 93 

For several years the imports of merchandise into Great Britain 
have exceeded exports by close to £125,000,000 per annum. For 
the year 1895 the merchandise balance of trade was against Great 
Britain by £130,547,693 — very nearly $650,000,000. She bought this 
immense sum more than she sold, and this large adverse balance 
was nothing unusual. Yet she was not called on to pay in gold 
for this great excess of imports over exports. On the contrary, she 
imported £14,736,715 sterling more of gold than she exported, and 
her net imports of silver came to £302,246. So we see Great 
Britain received of merchandise, gold and silver in the neighborhood 
of $725,000,000 in excess of what she paid for with merchandise. 
Of course, this excess was paid for, but how? Evidently by the 
return on British investments in foreign countries, together with 
the earnings of British ships in the service of foreigners. And 
an annual return of $725,000,000 represents at 4 per cent, an 
investment abroad or in British ships doing service abroad of a 
capital of $18,125,000,000. This, then, we may put down as the 
indebtedness of the rest of the world to the creditor classes of 
Great Britain. It may be urged that much of the debt of $725,- 
000,000 owing by Great Britain last year for produce bought in 
excess of produce sold was paid for by a reduction of the principal 
of the indebtedness due by the world at large to Great Britain, 
but when we recall that the British trade returns depict for years 
the same picture, this is seen to be impossible. 

Our Loss Great Britain's Gain. 
Clearly, if one dollar a bushel is obtained for wheat by 
those countries from which Great Britain buys, the British creditor 
would get but one bushel of wheat for every dollar due as in- 
terest, but if by inducing the nations of the western world to dis- 
card silver and thereby enhance the value of gold, he succeeds in 
forcing down the price of wheat to fifty cents a bushel, it is quite 
evident that he will get two bushels of wheat for every dollar of 
interest due. As a matter of fact, this is just what the British 
creditor classes have succeeded in doing, not alone with wheat, 
but with cotton and other produce. The effect has been virtually to 
double the tribute which the world is under to London. - The 
creditor classes get twice the quantity of produce in settlement of 
interest charges that their debtors bargained to give them, and 
the effect is not one whit different than if, prices remaining the 
same, the annual tribute of the world to London of $725,000,000 
had been doubled to $1,450,000,000. Of this tribute we bear not less 
than $200,000,000, and by demonetizing silver and aiding the 
creditor classes of Great Britain to enhance the value of gold, we 
have in effect consented to have this tribute doubled to $400,000,000. 



94 THE SILVER SIDE— Campaign Text-Book. 

And now we are told that we must wait before we attempt to 
undo this folly, which has virtually doubled our indebtedness 
until such time as the creditor classes of Great Britain may see 
fit to surrender, not alone to us, but to the whole world, the 
extra tribute which, through the enhancement of gold, they have 
cajoled the world into paying them. They are getting today for the 
$725,000,000 of annual tribute, produce that would have been 
worth $1,450,000,000 twenty years ago. Are they likely to sur- 
render this increase of annual tribute, an increased tribute of prod- 
uce of the value, at 1873 prices, of $725,000,000? If they are 
not likely to surrender voluntarily this tribute, they are not likely 
to enter into an agreement to restore bimetallism. 

Clearly, he who would wait for such voluntary action on the 
part of the creditor classes of Great Britain would wait forever, 
for, as we have said, we cannot hope for much to come of begging 
those who enjoy the growing tribute, under which the gold stand- 
ard has placed us, to relinquish part of that tribute. And, as 
we have said, this, in effect, is what we do when we approach 
the creditor classes of Great Britain and Germany on the sub- 
ject of an international conference, to be called with the avowed 
purpose of cheapening money and raising prices. We cannot ex- 
pect the assistance in raising prices of those who welcome lower 
prices. 

The United States Can Force Bimetallism. 

By taking the step that we are told is fraught with peril, we 
can force bimetallism. During the last three years, Great Britain 
has taken over $90,000,000 of our silver. Now why is it they 
are willing to take this silver? What use do they put it to that 
makes it so desirable? 

Do they keep it? No. They take the silver they purchase 
from us, or rather take in part settlement of interest charges, and 
send it to the east, to silver standard countries, to countries 
where it will purchase just as much of commodities as ever. It 
is for this use that they wish our silver, and it is because the pur- 
chasing power of silver has remained unchanged in half the globe, 
that, just as the gold price of silver has fallen, the British trader 
has been more and more anxious to get our silver, for just as 
silver has fallen, as measured in gold, the farther has the British 
trader been able to make his pound sterling go by exchanging it 
for silver and sending the silver to silver standard countries — 
to countries where the ounce of silver will buy as much wheat 
and cotton as ever, and there exchange it for these and other 
commodities. 



INDUSTRIAL SLAVERY AND THE SALE OF THE REPUBLIC. 95 

England's Profit in Cheap Silver. 

As the purchasing power of silver has remained unchanged in 
one-half the globe, it is quite clear that just as silver has fallen, 
so the price to the Englishman of everything he can buy in 
silver-using countries has fallen likewise. Bearing in mind it is 
readily explicable why he finds his interest in forcing down the 
price of silver and purchasing just as much silver at the lowest 
price he possibly can. 

With our silver, which we part with at one-half the old mint 
price, the British trader has been enabled to force down the prices 
of the agricultural products which he buys from us by one-half. 
Such being the case, our interest lies in making a market for our 
own silver, and thus depriving the British trader of the lever by 
means of which he has forced our producers, our farmers and 
planters, to cut prices in half. Evidently, therefore, it is our 
interest to open the mints to silver and thus make a market for 
our silver. Our mints open to silver and coining ioo ounces of 
silver, free of charge, into 129 silver dollars, just as they now 
coin 100 ounces of gold into $2,067 °f g°ld, it is evident no 
one would part with an ounce of silver for less than $1.29 in 
silver coin. So the price of silver to the British trader would be 
raised, and, as the price of silver was raised, the cost of cotton 
and wheat bought from silver standard countries would be raised 
in equal degree. 

So the prices obtained by our producers would rise, and con- 
tinue to rise, until they reached the level where it would be profitable 
for the British trader to buy our silver at $1.29 an ounce, and 
spend it in silver countries. That prices would rise to this point 
cannot be questioned, for until they did, America would be the 
cheapest market for the British trader to buy in, and the in- 
creased demand would force up prices. In a word, the opening of 
our mints to silver would restrict that area from which the British 
trader could advantageously draw his supplies, and competition 
with our silver-using competitors, from which we have suffered 
so grievously, would be eliminated until the gold price of wheat 
and cotton in England had risen equally with the gold price of 
silver. The British trader would have to pay us $1.29 an ounce for 
our silver, or stop buying wheat and cotton of silver-using coun- 
tries. In this way, the needs of the British consumer would lead 
to the restoration of the parity between gold and silver. Great 
Britain would be forced to aid us in restoring bimetallism, in 
spite of herself. 



96 THE SILVER SIDE— Campaign Text-Book. 

Our Ability to Maintain the Parity Between Gold and Silver. 

Besides, the perils that rise up to haunt the international bi- 
metallists are much magnified. Population is no gauge to the de- 
mand of a nation for money. The demand is measured not alone 
by the numbers, but by the industrial activities of the people, by 
the volume of goods that is produced to be exchanged through the 
medium of money. The greater this volume of goods, the greater 
the demand for money. And when we come to compare the in- 
dustrial activities of the American people with those of their Euro- 
pean brethren, and to measure the volume of goods we produce 
and that must be exchanged, we find that the American 
people outrank their European neighbors two to one in volume 
of exchanges. In other words, the 70,000,000 of American people 
having, owing to their greater diversification of industries and 
industrial activities, to effect double the volume of exchanges as 
are carried on by an equal number of average Europeans, the 
United States, by opening her mints to silver, can create as great 
a demand for silver as would be created by giving free coinage to 
140,000,000 of Europeans, a population greater than all the nations 
of Europe it is deemed necessary to bring into accord with us in 
order to make it safe for us to establish bimetallism. So the ability 
of America to make a demand for silver sufficient to restore its 
old price, as measured by gold, is much underrated. Our do- 
mestic exchanges equal in volume those of all continental Europe 
save Russia. Consequently the opening of our mints to silver 
would be equivalent to the opening of all mints of western Europe 
under an international agreement and by opening our mints to 
free coinage we could accomplish as much toward restoring the 
parity between gold and silver as could be accomplished by the 
joint action under international agreement of France and Ger- 
many, Austro-Hungary and Italy, Spain and Belgium, Switzerland 
and Greece, in fact of all the nations of continental Europe, save 
Russia. There is little doubt, then, that the opening of our mints 
to silver would so increase the demand for silver and decrease the 
demand for gold as to restore the parity of the two metals at 
the ratio established at our mints. 

Nothing to Fear from a Premium on Gold. 

But suppose the parity between gold and silver was not at 
once restored on opening our mints to silver. What would be the 
result? The immediate effect would be to confer on our producers 
that bounty on exports to gold-using countries, and protection 
against imports in the shape of a premium on gold, such as our silver 
competitors now enjoy. 

The export trade of all gold standard to silver-using countries 



INDUSTRIAL SLAVERY AND THE SALE OF THE REPUBLIC. 9? 

is being destroyed, while the export trade from silver-using to gold- 
using countries is being wonderfully stimulated by the premium on 
gold. The reason for this is no enigma. The purchasing power 
of silver in silver-using countries has not decreased in the least 
with the divergence in the values of gold and silver. Consequently, 
the cost to silver-using peoples — the labor-cost, the cost as measured 
By the sacrifice of their products, of everything purchased from gold- 
using countries and the gold-price of silver — has increased by the 
difference between the fall in the gold-price of the article, and the 
depreciation of silver as measured by gold. And as the cost of 
production in gold-using countries has fallen in no such degree as 
the gold price of silver, it has been quite impossible for producers 
in gold-using countries to sell their produce for the same old silver 
price. 

Though selling for a smaller gold price, they are constrained 
to ask a higher silver price, and this enhancement of price to sil- 
ver-using peoples of everything bought from gold-using countries 
has acted as the most unbending of protective tariffs and driven 
such people to the manufacture of such goods as they formerly 
bought abroad. 

And this premium on gold, that acts on the one hand as a 
protective tariff on imports, acts on the other as a bounty on all 
exports from silver-using to gold-using countries; for, selling for 
gold, which is worth double the old price in silver, and as the silver 
cost of production has not increased at all, it is clear such peoples 
can cut gold prices in half, to the infinite injury of producers in 
gold standard countries, without diminishing in the least the price 
they receive in silver or their profit on production. 

Now the opening of our mints to silver would immediately put 
our people in touch with such people. No longer would there 
be any automatic tariff against exports from the United States 
to such countries, in the shape of a premium on gold; and, if the 
parity between gold and silver was not at once restored, we would 
have an incalculable advantage over our competitors producing 
on a gold basis. If such parity was not restored, Great Britain 
would have the same sort of a protective tariff in the shape of 
a premium on gold to contend with as now, but we would not. 
The result to trade would be the same as if silver-using countries 
laid a discriminating duty against imports from Great Britain and 
other gold countries, and in our favor, equal to the premium on 
gold. 

So, if the opening of our mints to silver did not at once restore 
the parity of gold and silver, Great Britain would see her trade 
with silver-using countries slipping away, her manufacturers would 
see their goods displaced by goods of American manufacture, and 

7 



98 THE SILVER SIDE— Campaign Text-Book. 

the trade from which she has so greatly profited in the past would 
pass into our hands. Then no longer would we be required to 
buy British manufactured goods, by export of wheat and cotton, 
with which to pay for our imports from South America and the 
orient, for we would pay for such goods directly by the export 
of our own manufactured goods. No longer would London be the 
clearing house of the world. The trade which Britain controls 
would slip from her grasp, the profits she derives from laying the 
world under financial vassalage and commercial tribute would van- 
ish, and it would at once become a question how the great trading 
nation, unprepared to feed herself, would find the means to pro- 
vide the food for her thousands of idle workers; for America's 
markets would be closed against her, while the competition of our 
agriculturists with the British farmer would, under the incentive of 
a bounty on export, become absolutely destructive. 

For Great Britain there would be only one escape. Only by 
restoring bimetallism could she save her trade and commerce from 
destruction and her people from abject poverty. The fortunes 
of her trading classes would be dissipated no less surely than the 
savings of the poor. 

Free Coinage the Remedy. 

So it is that by opening our mints to silver we can surely restore 
bimetallism. An independent course will free us from financial 
vassalage to Great Britain, and from such a course our producing 
classes have nothing to lose. 

The question is then simply, can our people free themselves from 
the oligarchy that is being built up on their impoverishment, and 
do that which will save them? The Republican party has sold itself 
for gold, it must be repudiated. It is assumed by those who made 
contributions to the Republican campaign fund that the making of 
their princely contributions was equivalent to a purchase of gov- 
ernmental policies and favors. Thus we have brought home to us 
the sale of the republic. 

Selling the Republic for Gold* 

The moneyed interests subscribed liberally to the McKinley 
campaign fund; they regarded their contributions as the purchase 
money, the price demanded for the maintenance of the gold standard 
and the right to exact an ever-increasing tribute from the pro- 
ducing classes; and having paid highly, they demand the delivery 
of the goods. 

So, when some time since some Republican senators stood up 
in the senate and urged international bimetallism, urged the over- 
throw of the gold standard by international agreement, and thus 
threatened to deprive the speculative cliques of the power to tax 



INDUSTRIAL SLAVERY AND THE SALE OF THE REPUBLIC. 99 

the community through the means of an appreciating dollar, the 
moneyed interests rose in arms. They cried fraud. They regarded 
this effort on the part of Republican senators to attain bimetallism 
through international agreement as a breach of contract, and they 
wanted to know if those who solicited their contributions are going 
to permit Republican senators to go back on the bargain that they 
— the moneyed interests — supposed they had sealed with the Re- 
publican party, when they handed over their contributions. A con- 
dition that they made precedent to the giving of their contributions 
was that the Republican party should bind itself to the maintenance 
of the gold standard without alteration or addition, and it was on 
this understanding that the contributions were given and received. 
This is what the New York Nation, in its issue of February 4, 1897, 
told us, and when it found those who represented the party that 
profited from the contributions, that was bought to take its position 
in advocacy of the gold standard by the promise of contributions, 
actually urging international bimetallism, it warmed up to denounce 
such action as "a scandalous, almost a criminal, violation of political 
faith." 

True, the Republican platform of 1896 recognized bimetallism, if 
it could be attained by international agreement, as desirable; so 
also it is true that in accepting the presidential nomination on that 
platform Mr. McKinley pledged himself to strive after such an 
agreement. But all this goes for naught because campaign con- 
tributions were given on condition that the Republican party should 
wed itself irretrievably to the maintenance of the existing gold 
standard. What was paid for with money must be delivered; what 
was declared to be the policy of the party in the platform, but which 
those who contributed to the campaign fund demanded should be 
eliminated in the practical reading of the platform and considered 
as a dead letter put in the platform to catch votes, must be ignored. 
Campaign Contributions. 

It is natural that men should contribute of their earnings to 
carry on a campaign in advocacy of a policy that they believe will 
promote their well being. It is right that they should do so, and so 
long as the money they contribute out of their own earnings is 
used legitimately no one has the right to object. But when they 
take not of their own earnings, not out of their own money, but 
of the moneys of corporations, of financial institutions, of banks 
and trust companies, of even savings funds, take of moneys en- 
trusted to their care, and use such moneys to corrupt a party, to 
purchase the policy of a party, to cause the leaders of a great party 
to betray it, and lead it into an abandonment of its principles, it is 
time to call a halt. 

When the principles of parties can be bought and sold, when 



100 THE SILVER SIDE— Campaign Text-Book. 

policies calculated to enrich the few and impoverish the many can 
be purchased, we have a rule of money, not of men; an oligarchy of 
wealth, not a republic. And it is to this estate that our republic has 
been brought by the victory of the Republican party, a victory 
gained after the sale of its principles for gold, after it had turned 
on its proud record as the champion of human rights, and, in con- 
sideration of campaign contributions, become the champion of 
property rights. 

Whether our people can throw off the oligarchy that rules 
through money, and the republic, with renewed vigor and purity, 
be built up anew, remains to be seen. The hope of the country 
lies in the probity, justice and intelligence of the great majority 
of our people. The danger lies in their impoverishment. It is 
impoverishment of our producing classes that has undermined the 
republic; it is the enslavement of our toiling millions, through 
growing impoverishment, that threatens its complete overthrow. 
An impoverished man, living from hand to mouth, and knowing 
that loss of employment will bring him face to face with starva- 
tion, grows to fear the frown of his employer, he loses his inde- 
pendence and does the bidding of his employer without the work- 
shop as well as within. We knew intimidation of voters on a 
large scale during the last campaign, intimidation through fear 
of dismissal, and the more impoverished the wage-earner becomes 
the more potent must the power of the employer over his em- 
ploye become, until at last the latter becomes his mere slave. So 
it is that the impoverishment of our productive classes insidiously 
undermines the republic, for, destroying the independence of men, 
it enables money to rule. 

Hope of Redemption. 

But born in the cradle of liberty, blessed with a birthright that 
is that of no other people, strong, despite the increased burden- 
someness of mortgages and taxes, in the ownership of their homes 
to a degree enjoyed by no other people, and practiced to think 
for themselves, our producing classes are in a better position than 
those of any other country to discern, and discerning, throw off 
the insidious weight that is grinding them down to the abject 
slavery of poverty. In this lies the hope of the disenthralment 
of our people from the yoke of the moneyed oligarchy that is 
growing up on their own impoverishment. 

Our producing classes have the power to effect their own 
emancipation, for they have it in their power to remove the cause 
of their impoverishment and threatened enslavement. It rests with 
them to discern this cause, apply the remedy, and, from the ground- 
work of a prosperous and independent working population, free 



INDUSTRIAL SLAVERY AND THE SALE OF THE REPUBLIC. 101 

the country from the dictation of the moneyed oligarchy, and build 
up anew the republic where men will be of more power than money. 

Pitfalls and Dangers, 

But to accomplish this there must be unity among those who 
suffer from the rule of money. Without this unity, nothing can 
be accomplished. It will not do for those who suffer to follow 
those leaders, who, as tried politicians, are content to follow. They 
must seep out and follow leaders who have the courage and dis- 
cernment to lead; who are ready and capable to take the responsi- 
bility of leadership. They must follow men who are ready and 
anxious to go forward; they must not wait for men who must be 
pushed forward. 

There must be no uncertainty in the attack on entrenched 
oligarchy, or it will fail. The attack must be made with vigor, and 
must be directed by those who know the vulnerable points and who 
can make it effective. Therefore the need of leaders who will 
lead, for strength must not be wasted in a blind struggle, such 
as the struggle against the encroachments of oligarchy must be- 
come if directed by men who, waiting to see which way the tide 
runs, must ever hesitate. Those who aim at self-preferment and 
hesitate to lead through fear of jeopardizing their political future 
cannot successfully lead in the struggle with oligarchy. Men who 
are prompted by love of country, and humanity, not of self, men 
who are ready to sacrifice their political future, must be found 
for leaders, or oligarchy will triumph. The man fitted to lead 
is not the one who, through fear of jeopardizing his own posi- 
tion, clings to one issue, and endeavors to check the movement 
against oligarchy along lines that are, as yet, less clearly defined. 

The campaign of emancipation must be made against the mo- 
nopolization of our currency and railroads as untiringly as it is 
made for the remonetization of silver. 

Let the campaign of the people be fought on these lines, and the 
republic that has been sold will be redeemed; the leaders of the 
Republican party who, in consideration of campaign contributions, 
caused the party to abandon its principles, will be repudiated, and 
a new party, whether it go by the name of Democratic, Populist, or 
something else, a party having taken the abandoned position of the 
Republican party as the champion of human rights, will triumph 
over the party that money has bought, our producing classes will 
be emancipated from the poverty of slavery and our republic re- 
deemed. 



CHAPTER X. 

THE EFFECT ON LABORING MEN OF DEMONETIZING 
SILVER. 

BY J. B. SMILEY. 

A man who is somewhat of a leader among the laboring men 
said to me some months ago' that the silver question was one which 
principally concerned debtors and creditors, and to laboring men, 
as such, it was a subject of minor importance. This is a very un- 
wise position to assume. To no' class in the community is the silver 
question of more importance than to laboring men. What labor- 
ing men want and need is (i) short hours to allow them time for 
intellectual and social development, whence comes the philosophy 
of the eight-hour movement; (2) wages as high as possible, to enable 
them to improve the condition of their families, and (3) steadiness of 
employment. The fall in prices caused by adopting gold as the 
standard is detrimental to all these interests. This century laboring 
men have been trying to combine — to form labor unions, to protect 
themselves against the aggressions of organized capital, and to 
enable them to raise their wages and get a larger share of the advan- 
tages accruing to the community from the progress of invention and 
scientific discovery. 

Effect of the Gold Standard on Labor. 

The establishment of the single gold standard will check the 
advance of the laboring men, and set their cause back for years. 

The old theory of political economists, which was current for 
many years, and which is now often advanced by writers on the 
capitalist side, was that there was a fund of capital, called ''the wage 
fund," out of which all wages were paid. The theory was that the 
rate of wages which could be paid depended "upon the ratio between 
the amount of labor seeking employment, and the amount of capital 
devoted to its employment.' The late Gen. Francis A. Walker and 
others have assisted in demolishing this old theory, and it is no 
longer held by the best political economists. 

The Modern and Better Theory* 
The new and true theory is that labor is paid out of the amount 
received for its product. That is, if goods are made which sell 

102 



JOHN W. DANIEL, United States Senator from Virginia, was 
born September 5, 1842, in Lynchburg; educated at its college and at 
Gessner Harrison's university school; served in the Confederate army; 
studied law in the Virginia University; served several years in the state 
senate; was an elector at large on the Tilden and Hendricks ticket, 1876; 
was a member of the Forty-ninth Congress, elected to United States Sen- 
ate March 4, 1887, and re-elected in December, 1891. Of his splendid 
work opposing the gold power in the Democratic National Convention 
and since, space will only permit mere mention; of this splendid man and 
his work, the nation will hear yet more emphatically in the not distant 
future. 



EFFECT ON LABORING MEN OF DEMONETIZING SILVER. 103 

readily for $100, out of the amount received for them a part will 
go to pay for the raw materials used; another part to pay the ex- 
penses, like rent, interest, insurance, etc.; another part to pay the 
laborers; another part for profits to the managers, and so on. Now 
this being so it would seem that any permanent fall in the prices 
received for commodities would necessitate a corresponding fall in 
the amount paid for wages. Thus it would be impossible for farm- 
ers, if they sell their wheat for fifty cents a bushel, to (in the long 
run) pay their laborers as high wages as they can if their wheat sells 
for $i a bushel. The lower price will cut into their receipts so 
that, to save themselves, they must cut down the wages of their 
laborers. And no amount of protesting, struggling and striking on 
the part of the laborers can possibly prevent the reduction. That 
which would be true of wheat, in the case supposed above, is equally 
true in principle of all other things. And that which reasoning 
would lead us to expect is shown by experience to have happened. 
Mr. Edward Atkinson and other defenders of the gold standard 
attempt to show that the condition of laboring men has steadily im- 
proved for many years, and that the demonetization of silver has 
not injured them in any way. To prove this point it is customary 
to quote from the United States Senate Report on Wages, com- 
monly called "The Aldrich Report." This report shows that from 
i860 to 1 89 1 there was a large increase in the average wages of 
laboring men. The report does not include any date later than 
1 89 1. That report was prepared by, men who wished to show the 
highest possible level of wages in recent years, but an examination 
of the tables shows that 97 per cent, of the rise in wages occurred 
from 1 86 1 to 1873, while from 1873 to 1891 only 3 per cent, of the 
rise took place. 

Miners Lose Under the Gold Standard. 

Mr. Charles E. Spaler, however, in his excellent work on "The 
Distribution of Wealth," pp. 103-109, has shown these much quoted 
tables to be almost worthless. A much more painstaking and reli- 
able report is that on the wages of miners, prepared by Mr. Joseph 
D. Weeks. This report shows the average daily wages of miners 
to have been as follows (in gold): In i860, $1.05; in 1873, $1.90; 
in 1891, $1.58. Since 1891 there has been a very marked further 
decline. An evidence of the general decline of wages in recent years 
is furnished by the statistics compiled by the Ohio State Labor 
Commissioner Mr. Rueherwein, showing that in 1,388 industrial 
establishments reporting to him from various parts of the country, 
52,488 less hands were employed in July, 1896, than in July, 1892, 
and that in those establishments $19,214,448 less was being paid in 
wages annually. The fall in wages in the opening months of 1897 



104 THE SILVER SIDE— Campaign Text-Book. 

is widespread and general, as shown by the daily reports in all the 
newspapers, and although no exact statistics are available at pres- 
ent, it is a matter of common observation. The idea that laboring 
men as a class can profit by a general fall in prices is a sad delusion. 

Irregular Employment a Result* 

Another result of falling prices is the uncertainty and irregularity 
of employment which it produces. It is not altogether the rate of 
wages which the laboring man receives per day which counts with 
him. If the price remains the same while employment becomes ir- 
regular, and, through lack of work, much time is lost, the result 
is the same as though wages were reduced. The important thing is 
the total income received each year. Even in good times the aver» 
age laboring man does not by any means have steady employment. 
The Illinois Labor Report for 1886 gave returns from 85,000 wage- 
earners, including railroad men, coal miners, 45,000 trade unionists, 
etc., and the report shows that these men only averaged about 37 
weeks' work in a year, or 70 per cent, of full time. The increasing 
number of bankruptcies caused by falling prices throws a vast num- 
ber of laborers out of work, and it makes it very much more difficult 
for them to find new situations. This operates in two ways. First 
it causes a direct loss to those thrown out of work, as they will lose 
much time before they can find new situations; and, second, these 
idle men seeking employment have a tendency to pull down the 
wages of those who are employed. The labor unions, when strong 
and well organized, can partially protect their members, but the 
great body of unorganized laboring men have no protection, and the 
majority of laboring men do not belong to any union. It makes a 
world of difference to working men whether there are two men 
seeking one job, or two employers seeking one laborer. When fac- 
tories are finding it difficult to market their goods, and so are run- 
ning short time or shutting down, there always appears an excess of 
workers, and a struggle begins by those employed to prevent wages 
from falling. When prices are advancing and trade is brisk, well 
managed strikes may succeed, or, as often happens, the employer 
may accede to the demands of the men rather than incur the losses 
a strike is sure to cause; but when prices are falling and business 
is demoralized the proportion of strikes which succeed is very 
much smaller. The laboring men, therefore, find this weapon of 
defense powerless, or very much weakened. But at a time when the 
help of the unions is most needed they can render least assistance, 
because statistics show that during hard times the membership of 
the unions falls off, as it is difficult for the men to keep tip their dues, 
etc., while in good times the unions increase most rapidly in mem- 
bership and power. Any influence, therefore, which causes a fall in 



EFFECT ON LABORING MEN OF DEMONETIZING SILVER. 105 

prices, and so reduces the amount which is received for the products 
of the factories and farms will fall with crushing weight on the labor- 
ing men. 

Laborers Warned. 
Laboring men should not be deceived by any catch phrases 
about "opening the mills to laboring men, instead of the mints to the 
silver of the world." The mills will not open, and stay open, until 
a market can be found for the goods they produce. The first thing 
to do is to improve the market, and this can best be done by 
a general rise of prices. When prices of farm produce and other 
things rise it will increase the incomes of the people. These in- 
creased incomes will be spent buying goods to satisfy the wants 
of the people, and this increased expenditure will itself make a 
market for the products of our factories. Then they can and will 
open, and their employes will be set at work. 

Not Over-Production, but Under-Consumption the Trouble. 

The trouble now is under-consumption. The self-denial the 
people are forced to practice is causing them to go without the 
goods they want, and this destroys the market for merchandise. The 
workers in our factories will not prosper until the masses of the 
people are rendered prosperous by a change in the monetary sys- 
tem. When general prosperity returns, the factories will get their 
share, but not before. 

The disasters and misfortunes which the producers of the world 
are now suffering from were foreseen and foretold as a result of 
the effort to discard silver and bring the civilized nations to the use 
of gold alone. At the monetary conference held at Brussels in 
1892, Baron Alfred de Rothschild, one of the delegates from Great 
Britain, used these words: 

If this conference were to break up without arriving at any definite re- 
sult, there would be a depreciation in the value of that commodity (i. e. 
silver) which it would be frightful to contemplate, and out of which a 
monetary panic would ensue, the far-spreading effects of which it would 
be impossible to foretell. 

As all know the conference did break up without accom- 
plishing anything. It failed as all previous attempts at in- 
ternational action have failed, and as. in all probability, all 
future attempts of a similar nature will also fail. In 1893 the 
disastrous fall in silver occurred which Baron de Rothschild had 
foreseen, and we are today suffering from the "far-spreading ef- 
fects" of that fall, which he then thought it was so "frightful to 
contemplate." And the workingmen may as well realize that the 
end is not yet. 



106 THE SILVER SIDE— Campaign Text-Book. 

In an address read before the National Club in England on the 
27th of March, 1895, Prof. Foxwell spoke as follows: 

Nothing is more instructive than to compare the forecasts of such 
men as Ernest Seyd, Wolowski, Baron Alphonse de Rothschild, and the 
bimetallists generally, with those of even the ablest monometallists, such as 
Jevons and Bagehot. The loss of the par of exchange, the depreciation of 
property, the ruin of agriculture, the depression of trade — all this was accu- 
rately foretold by Ernest Seyd and other bimetallists before the demonetiza- 
tion began; while Bagehot held in 1876 that the Indian exchange difficulty 
would soon correct itself, and Jevons, in 1875, thought the price of silver need 
not fall further, and gold was not likely to rise. As for the city editors, I do 
not know how many scores of times they have assured us that "prices had 
touched bottom," and that silver would "shortly find its natural value," 
whatever that may mean. If prevision is the test of science, the bimetallist 
explanation easily holds its own. 

Confidence to be Restored on Repeal of the Sherman Law. 
These remarks of Prof. Foxwell apply equally well to America 
today. In 1893 the great daily newspapers, almost without excep- 
tion, assured the people that if the "Sherman Law" was only re- 
pealed and the coinage of silver stopped, "confidence" would be 
restored, business would at once revive, the factories would open, 
and the workingmen find steady employment at good wages. Their 
advice was taken and the Sherman law was repealed, but instead of 
improving, business got steadily worse. Again in the campaign of 
1896 our great city newspapers continued day after day to sing 
the same old song, oblivious of the fact that their previous predic- 
tions had all proven false. They assured the people that "confi- 
dence" was all that was needed, and if the silver cause was defeated 
"confidence" would be restored at once, business would immediately 
revive, and a great wave of prosperity would sweep over the coun- 
try. And so it has gone. Over and over again the "city editors" 
have assured the workingmen that the "worst was over," and that, 
if we would be true to the gold standard, business would speedily 
revive, factories would open, idle men would find ready employment, 
and prosperity would return. Over and over again their predictions 
have been falsified by the results. Prices have continued to fall, 
wages have been cut, factories run on short time, and the earnestly 
desired "prosperity" does not come. All the predictions of the 
silver men, however, have so far been verified. How much longer 
will the workingmen continue to be deluded by these false prophets 
of the single gold standard? 

Fearful Forebodings for the Future of the "Workingmen. 
If it once becomes clear that gold alone is to be the standard 
money of the civilized nations of the world, steps will soon be taken 



EFFECT ON LABORING MEN OF DEMONETIZING SILVER. 107 

to put Japan and India and other nations also on the gold basis. 
And every nation which enters the lists and takes part in the 
great scramble for gold adds just that much more to the fearful 
strain already upon it, and will cause a still further decline in prices. 
Before the process is over the working men of all the gold standard 
nations will inevitably be forced to a lower level. One cut of wages 
will follow another, the hours of labor will be lengthened, and the 
workingmen will lose nearly all that they have gained by the strug- 
gles of the last half century. At first they may try to resist the 
process, and some of them will take part in strikes, but the great 
numbers out of work, and forced by dire necessity to apply for their 
places, will surely defeat the strikers, and in the end they will fail. 
As Baron Rothschild said, it is "frightful to contemplate" the further 
disasters and suffering through which the laboring men must pass 
if this process is continued. They have it in their power, through 
the use of the ballot, to* reverse the process whenever they choose to 
do so. And the result lies largely with the workingmen, for they 
have votes enough to turn the scale one way or the other, as they de- 
cide to cast them. 

Use of Machinery as Affecting "Wages. 

Entirely aside from the effect of money of any kind (gold, silver 
or paper) there ought to be a general and very considerable rise 
in the wages of workingmen resulting from the constantly increas- 
ing use of machinery. 

The idea that the use of machinery injures laboring men will 
not bear investigation. Men are learning to harness the forces of 
nature and utilize them. This is largely increasing the amount of 
commodities produced, and some one is getting the benefit of it. 
The belief that they are not getting the share they are entitled to is 
gaining with the workingmen, and justly so. The productive power 
of the community as a whole is rapidly increasing and laboring men 
ought to get their full share of the benefits resulting therefrom. 
This should accrue to them in increased wages, and if they do not 
get it they have a right to ask where it has gone. As Gen. Francis 
A. Walker has well said, even if it was shown that there has been 
some rise in wages since silver was demonetized, it would still be 
in order to ask if the rise has been as large as it ought to have been; 
and if the fall in prices and demoralization of business have pre- 
vented as great a rise as would otherwise have occurred, it has been 
a vast injury to the laboring men as a whole. This we think has un- 
questionably happened. 

Sir Robert Giffin in his "Essays" (vol. 2, p. 23), speaking of the 
increased production of commodities which has taken place in re- 
cent years, through the use of machinery, etc., says that if the pro- 



108 THE SILVER SIDE— Campaign Text-Book. 

duction of gold had increased in a corresponding ratio, "commodi- 
ties would be more abundant, but the abundance would make itself 
felt in a rise of money wages, salaries, rents and profits, and not i?i 
lower prices." 

This is admirably stated, and it is the fact that the standard 
money is not increasing in a ratio corresponding with other things 
which is causing the disastrous fall in prices, and not the increased 
use of machinery, as is often asserted. 

If all artificial or legal restrictions were removed and the people 
were allowed to enjoy the full benefit of the opening of new mines 
and the resulting increase in the money of the world (which would 
not at best more than keep pace with the increase of other things), 
a stimulus would be given to all productive enterprises, and the 
laboring men would be among those most benefited. 

Labor Vastly Benefited by Abundance of Money. 

The remarkable output of the precious metals which followed 
as one of the results of the discovery, of America by Columbus, 
is thus commented on by David Hume: 

It is certain that, since the discovery of the mines in America, industry 
has increased in all the nations of Europe. * * * In every kingdom into 
which money begins to flow in greater abundance than formerly, everything 
takes a new face; labor a?id industry gam life; the merchant becomes more 
enterprising, the manufacturer more diligent and skillful. 

The same thing occurred after the discovery of the new gold 
mines in California and Australia, and Mr. William Newmarch, 
writing in 1853, said: 

We are justified in describing the effects of the new gold as almost 
wholly beneficial. * * * // has already elevated the condition of the 
working and poorer classes ; it has quickened and extended trade, and ex- 
erted an influence which, thus far, is beneficial wherever it is felt. 

Prof. Cairnes regarded the rapid rise in wages which followed 
the opening of the new gold mines as one of its happiest results. 
A large increase in the metallic money of the world has always been 
beneficial in the past, and it will be so again when the world is al- 
lowed to enjoy the full benefits it is entitled to reap from the opening 
of new mines. And it will happen again, as it has in the past, that 
the laboring men will get a large increase of wages, find more 
steady employment and be greatly benefited in every way. 

History's "Warning to America. 
While the laborers who produce the wealth are harassed to 
know how to get the bare necessities of life, the favored few roll in 
wealth. Such exhibitions as the recent giving of a fancy ball on 



EFFECT ON LABORING MEN OF DEMONETIZING SILVER. 109 

which three hundred thousand dollars was spent, may well cause 
laboring men to ask how these things can be. 

When Rome fell, eighteen hundred men owned practically all 
the land of the empire, and the great concentration of the wealth 
of the country in the hands of a few was one of the signs that pre- 
ceded its downfall. A similar concentration of wealth is taking 
place to-day in America. One per cent, of the families now own 
one-half of the property, and ten per cent, of the families receive 
about Jtalf the yearly income of the nation. This tendency to the 
concentration of wealth is one of the ominous signs of our times 
and the adoption of gold alone as the standard of value, by increas- 
ing the power of money, is one of the strong forces tending in that 
direction. Silently, like the operation of one of the forces of nature, 
it absorbs the wealth of others. It tends to make millionaires and 
paupers, and to widen the gulf between the "masses" and the 
"classes, 5 ' which is so dangerous a thing in a republic. The labor- 
ing men are among those most injured by this process, and it is to 
their interest to do all in their power to check it. And hence they 
should use every effort to prevent the adoption of gold as the only 
standard money of the world. 



CHAPTER XI. 

STARVATION IN THE MIDST OF PLENTY. 

BY THE AUTHOR. 

It is reported that Mark Hanna, chairman of the National Re- 
publican Committee, in an interview reported in a Chicago paper 
January 25, 1897, advised against the press publishing instances 
of deprivation, starvation and death; giving as a reason "that it was 
demoralizing, excited the people, and might lead to riot and blood- 
shed, possibly to revolution." The most prominent Republican 
papers, especially in the larger cities, quite generally conformed 
to the Hanna behest. The sufferings, however, became so appal- 
ling in New York, Chicago and other large towns, the party press 
could not remain wholly silent. Nevertheless, probably not one 
case in a hundred became known; a few did, notwithstanding the 
edict of the Republican committee manager, the multi-millionaire. 

The author of "The Silver Side," for the good it may do here- 
after, and believing that all should be made fully cognizant of the 
calamities that have befallen the people, their own fellow-citizens, 
herein makes permanent record of the conditions of the people in 
the winter of '96-97, and of the producing causes. Attention is 
called to the fact, and emphasized, that the trouble does not come 
by the dispensation of an overruling Providence, to whom famines 
and pestilences are sometimes attributed. Never were the people 
blessed with more bountiful harvests than in the years in which 
these calamities have occurred. The most intense and widespread 
suffering has been witnessed during the past winter, notwithstand- 
ing the crops of 1896 were never more abundant; but from every 
point of the compass comes word that the people have not enough 
to eat. So far as many persons are concerned, they might as 
well have lived in famine-stricken India, as in prolific Ohio, Iowa 
and Illinois; they perished by starvation in a land flowing with 
milk and honey. 

What is written upon this subject and the instance of individual 
sufferings hereafter noticed, are not recorded to subserve partisan 
interests, but to truthfully state the cause, that future generations 
of American citizens, warned by the mistakes of the present, may 
have wisdom to avoid like calamities. In some localities so intense 
was the cry for food that revolution, the last resort of a suffering 

110 




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STARVATION IN THE MIDST OF PLENTY. Ill 

people, was advocated, thus threatening the very life of our be- 
loved ship of state. 

Financial System, Trusts and Combines the Cause. 

The duty of making the record is an unpleasant one; no phil- 
anthropist can peruse the recitals that follow without cherishing 
a feeling of hostility to the financial system that caused it. If the 
selfish and self-aggrandizing associations of men who have been 
the cause of all this woe, could by any lawful means be made to 
bear the consequences of their own wrong doings, few would sor- 
row, but alas! it is far otherwise. The laboring classes, least able 
to bear it, have been the chief sufferers, as shown by the few 
recitals herein published, only a few instances of the many thou- 
sands. 

Why did Mr. Hanna, chairman and chief financial manager of 
the Republican party, advise silence, the non-publication of indi- 
vidual instances of suffering? It is no mystery to those who will 
consider in connection therewith the facts that Mr. Hanna ex- 
pended millions of money to insure the election of Mr. McKinley. 
The expenditure of his own million devoted to the unrighteous 
cause, probably does not cause him any unhappiness, for he is still 
a multi-millionaire. The great shadow that lowers over him and 
the Republican party, and will continue to overshadow them 
throughout the 1900 campaign, is caused by the brilliant Repub- 
lican ante-election promises made to working men in shops, on 
the farm, and railroad employes. They were assured that "Mr. 
McKinley was the advance agent of prosperity," that the very 
day of his election "confidence," the favorite word so continuously 
and confidentially used by Republicans, constituting their capital 
in trade the last four years, would be restored, and general pros- 
perity immediately follow. 

The conditions have come to pass, but all the promises have 
failed of fulfillment. The people find they have been deceived. 
The promises have not, cannot, be kept so long as the party ad- 
heres to the St. Louis gold standard. Since the election distress 
has increased, and now as if in mockery of the calamities of the 
long time sufferers, while this chapter is being written, arrange- 
ments, under the chief management of Mr. Hanna, are being made 
for the grandest display of wealth ever seen in America; the cere- 
monies attending the inauguration of Wm. McKinley. It will 
be witnessed by millionaires and billionaires. Let it be here no- 
ticed, and the statement emphasized, that in the great crowd be- 
holding that grand display there will be thousands, and tens of 
thousands of American citizen voters. There will be present men 
who will recall the history of the past; they will call to mind the 
names of Washington, Jefferson. Jackson, and Lincoln; they will 



112 THE SILVER SIDE— Campaign Text-Book. 

contrast the genuine Democratic-Republican governmental con- 
sistency of those times with the folly, inconsistency, and absurdity 
of the present, in the attempts being made to ape the monarchical 
customs of the effete governments of Europe. 
A Golden Opportunity Lost. 

Had Mr. McKinley possessed the heart of a Lincoln and been 
his own controller, here was his golden opportunity; with a stroke 
of his pen he could have prevented the proposed display and thus 
manifested his sympathy with the masses; he could have waived 
aside the ostentatious show of wealth that was to have made his 
inauguration specially famous, and in this way could have helped 
to banish the bitter feeling of the masses engendered by existing 
destitutions. Unquestionably, such lavish displays as contem- 
plated, at such enormous expenditure, are wholly out of place in 
a republic; it is unprecedented in the nation's history, and laying 
a foundation for trouble in the future. 

It has been gratifying to note that in several states their newly 
elected governors have absolutely forbidden all displays, on like 
occasions. That of Governor Pingree of Michigan is especially 
noted for its quiet republican simplicity, wholly devoid of sensa- 
tional features, reminding citizens of the statesmen, and of the 
democratic customs of earlier times. 

Undoubtedly, many of the onlookers of this vast expenditure 
will at the time be suffering the pangs of hunger, others beholding 
the lavish display being fed at the time by charity. Will this 
"grandest exhibition of the country's history," as the Republican 
leaders and press are boastingly promising, encourage famishing 
men and women, and their destitute families? Will the unem- 
ployed be satisfied? 

Is it not obvious to all that the mere discussion of physical 
resentment by the poor against the social function of the rich, a la 
Kimball-Martin, three-hundred-million-dollar affair, is portentous? 
Such a state of affairs would have been impossible twenty years 
ago. We repeat that, under the English methods adopted, this 
country is becoming a nation of few very rich, and if continued, 
many very poor and dissatisfied people. 

Costly inauguration and fancy dress balls, costing half a mil- 
lion dollars, will perhaps do some good by arousing the masses 
to assert their rights, peaceably, at the polls. An oppressed people 
will patiently suffer for awhile, but not for many years will they 
endure starvation; plutocracy may as well know it and take warn- 
ing. The great middle class will rise up to remedy the wrongs. 

For several years movements have been making to teach pa- 
triotism in the schools, to inculcate a high and lofty sense of citi- 
zenship, to implant a love of country in the young. But we ask, 



STARVATION IN THE MIDST OF PLENTY. 113 

what in the United States has the houseless man who sees his chil- 
dren in a state of destitution, to enthuse over? Why should a 
person who has been deprived of the opportunity to live, "rally 
round" any flag? 

Plutocracy is killing patriotism among the common people, 
and manhood among the rich. Starvation at one end of the line, 
and dissipation at the other, will sooner or later do their work. 

All this extravagance on the one hand and suffering on the 
other has occurred under the direct control of the man, to quote 
the language of Mr. Bryan in his admirable Jackson Day address: 
"who had debauched a continent." 

The Bitter Fruits of Silver Demonetization. 

The deprivations and sufferings of the unemployed have been 
quite well understood by the public through the past three years. 
It has been known they were increasing, but not until the coldest 
weather of the past winter came on was it fully realized. The 
last ten days of January proved to be the most disastrous. The 
following we clip from the daily papers of five principal cities. 
In country places and towns of less note, cases of suffering are 
not so marked, and more promptly relieved: 

Object Lessons. 

"Yes, your honor, I broke the big plate-glass window at 165 Randolph 
street and stole a box of cigars," said Charles Smith, as he stood before 
Judge Tuley yesterday, accused of burglary. 

"There were many boxes of cigars in the window," the prisoner con- 
tinued, "but I only took one. I went around the corner and met a police- 
man and offered him a cigar from the box. He asked me where I got the 
cigars. I knew he would. That was what I wanted. I led him around 
to the window and showed him where I got the cigars. He said he would 
Jock me up. I told him that was just what I wanted. 

"I had tramped this town from one end to another looking for work, 
which I could not get. I smashed that window purposely, so I would be 
locked up. I got tired of freezing and starving." 

"Mr. Ramsey, can you find this man a place to work?" inquired Judge 
Tuley. 

"I am afraid not, your honor, just now," answered Assistant State's 
Attorney Ramsey. 

"Well, I am not going to find him guilty of burglary," said Judge 
Tuley. "I will find him guilty of malicious mischief and sentence him to 
the county jail for ninety days. The order may be that Smith shall serve 
ninety days in jail, or be released at the discretion of the court before the 
expiration of the term of sentence." 

Smith walked away with a smile upon his lips. 



114 THE SILVER SIDE— Campaign Text-Book. 

Within the shadow of the magnificent Presbyterian church of Austin 
the family of C. Tuft was until last evening slowly starving to death. 

Until a week ago the family consisted of a wife and five children, but 
black diphtheria has invaded the home and, adding terror to the hunger 
and the cold, has taken two from its number. Charlie, 4, and Frank, 3 
years old, died on Saturday night, and the little girl, Inez, 11 years old, 
is not expected to live. 

The family has resided at its present home, 412 South Central avenue, 
for more than a year. During that time the father has been employed by 
the Cicero Paving Company and the Cicero Lumber Company as a team- 
ster, but since November he has been given only an occasional day's work. 
The small sum that had been saved for the family wants during the winter 
soon gave out, and when the 4-year-old boy was taken with diphtheria two 
weeks ago, neither nourishing food nor a doctor's care could be procured. 



Five hundred men were crowded into one police station that could not 
comfortably hold 100, but the poor, unfortunate men were glad to stand up 
all night and thus escape the cold. One man said: "I'll go out and rob 
somebody and then I'll get sent to prison. I'll get enough to eat there and 
I won't be frozen to death." 



D. D. Wilson, editor of the Machinists' Journal, reported a pitiable 
case of destitution today. He said. 

"A man whom I have known for a long time called on me today for 
assistance. He had been employed as a clerk in a large department store 
on State street at a salary of $8 per week. With a wife and two children 
to support, it is not to be wondered at that when he lost his position several 
weeks ago, he had no money saved. Every effort was made by him to 
secure employment. He even went from house to house asking for any kind 
of work. 

"During the past few days the cold weather has increased the sufferings 
of his family, which were added to by the fact that none of them had eaten 
anything for two days. 

"This morning he was forced to break up two kitchen chairs and use 
the pieces for fuel in order to keep his wife and children from freezing. 
He then grew desperate and, telling his wife and little ones to go to bed 
until he returned, he came to my office and told his story. I investigated 
his statement and found it only too true. 

"I cannot give you his name. If it were published he could never 
obtain employment at any store, as he would always be pointed to as a 
pauper. There are too many cases of this kind, where whole families suffer 
the greatest agony from cold and hunger rather than make their condition 
public." 

In the rear of the same number lives Jacob Bolstein, wife and three 
children. The furniture in the three rooms could be carried on the shoul- 



STARVATION IN THE MIDST OF PLENTY. 115 

ders of a boy, and it was so broken and damaged that it could not be sold, 
or it would also be gone. There was no food in the house. 



New York, Jan. 28. — A tall, thin old man staggered into the pawnshop 
of Arthur W. Heaney, on Atlantic avenue, near Court street, Brooklyn, 
today, and with trembling hands presented to the clerk a plain gold baby's 
ring and a pair of gold earrings. 

"How much do you want on these?" asked the clerk. 

"Want!" he exclaimed. "Want isn't the word. My God!" And then 
he grabbed the jewelry from the clerk's hand, and, kissing the ring, fell 
back dead. 



In the rear of 93 West Jackson street lives a Mrs. Merrich with four 
children, aged from 9 to 14 years. Her husband was killed last fall while 
in the employ of the South Side Railway Company, and since then she has 
struggled to support the family. Recently she was taken ill and was cared 
for by Dr. Ryan, who charged her nothing for his services and also gave 
her the necessary medicine. Recently one of the children was also taken 
ill because of starvation and cold, and the destinies of the family are now 
in the hands of the eldest child, a boy of 14, who has been unable to secure 
employment. 

A sad case of hunger and weakness was discovered at Salvation Army 
relief headquarters Friday afternoon. Mrs. Minnie Piepenburg, who lives 
in a tenement structure at 369 Wesson avenue, went to the Salvation Army 
to get food for herself and her family. She was weak from actual starva- 
tion. Walking the four miles from her poor little home to seek aid, she 
was worn out and exhausted and not able to fight her way through the 
throng of other seekers for help. For three hours she stood before the 
doors waiting a chance to get into the rooms, and at last, unable to stand 
any longer, she fainted. Her fall was noticed by two of the cadets, and 
she was carried into the rooms, where her wants were attended to. Help 
will be extended to the poor family. 



Chicago, Jan. 23. — Police stations sheltered 1,429 unfortunates last night, 
a larger number than ever before sought protection from the elements. 
The Maxwell street station headed the list with a total of 310 men; Har- 
rison street was a close second, 300 unemployed and homeless being hud- 
dled together on the floor in the cell rooms and corridors, telling a tale 
of suffering in the city. 



Aldrich Marsh of 548 West Fifteenth street committed suicide last night 
while in a fit of despondency. He had been out of work for months and 
was at one time well off, but reverses in fortune had ruined him and he 
had been almost a year without a home. 

He came home early last evening and remarked to his wife: "I can- 



116 THE SILVER SIDE-Campaign Text-Book. 

not stand this much longer." Then he went to his bedroom, where he 
was found about 12 o'clock with his throat cut from ear to ear. 



To the thousands of homeless unfortunates in New York the slight 
rise in the temperature today meant little. As on yesterday, they crowded 
in the relief stations, distracted with hopelessness and shivering with cold. 
Every charitable organization that sets hands on helping them was over- 
taxed, and in some quarters there was a cry for aid more pressing than 
any other winter has brought. How much suffering there is in the city is in 
a measure shown by the statement that the Association for Improving 
the Condition of the Poor is investigating 10,000 cases. 



Richard Grisen is only a laborer. He was formerly employed as a 
brickyard worker, but during the past eighteen months he has been able to 
earn very little. He has a family, consisting of a wife and six children, the 
youngest of whom is an infant 18 months old. Yesterday he was charged 
with horse stealing, but he has not been arrested, because he stole the animal 
that he might have food to keep his family from starving. 

Yesterday there was nothing to eat in the house. For days the family 
have been almost without food. His youngest child was sick. ' A year and 
a half ago Grisen was hurt and laid up for more than six months, and he 
has had little work to do during the past year. He was without a cent and 
could get no relief. He simply took the horse, brought him into his scanty 
yard, killed him and quartered the animal for food. He was engaged in 
cooking a portion of the horse when the detectives came to arrest him, and 
here is what Grisen said: 

"Yes, take me. I stole the horse and killed it so that my children 
might eat. There was nothing else for me to do except to see them starve, 
and I couldn't do that. I was determined that they should eat, if I had to 
die for it." The officers did not arrest the man, but reported his case for 
relief, which he has not yet received. 



"We have fed 3,500 people in the last three days," said Captain Wheeler 
of the Maxwell street station. "In those three days we have done more 
genuine good than the county agent's office will do in a month." 



Men, women and children are starving in Chicago in sight of relief 
because the county commissioners, blind and deaf, do not allow the county 
agent enough help to distribute supplies. 

There are twenty-six assistants where there should be fifty in the 
agent's office. 

Hundreds of these applications are more than two weeks old. Heads 
of families were discouraged then, and as a last resort appealed to the 
county for aid. They have seen their wives and children grow weaker and 
colder, and no aid has come — no bread and no coal. These men are des- 
perate now. 



STARVATION IN THE MIDST OF PLENTY. 117 

The county agent is helpless to save these famine-stricken men, women 
and babes. He has the relief on hand, but he has no way to distribute it. 
The county commissioners have tied his hands and are deaf to the cries 
of the hungry. 

Not until after several days had passed did the people of Chi- 
cago and other cities awake to the magnitude of the deplorable 
situation and in a daily paper of that city, it is said the saloons mani- 
fested more sympathy and extended greater relief than the churches, 
except one or two of those known as liberal. The same paper, the 
Dispatch, said: 

In the work of relief, the once despised Salvation Army is easily in the 
lead. It has faced the situation nobly, bravely and heroically. It does 
not ask whether a shivering and starving wretch is a sober mechanic out 
of work or a drunken tramp. A human life is at stake and rescue is its 
mission. 

In this sad emergency, the most serious in the history of Chicago, 
with the exception of the great fire, the so called charity societies seem to 
have disappeared. "Organized philanthropy" has again demonstrated its 
utter uselessness. At a meeting of ministers held yesterday a committee 
was appointed to consider ways and means and make a report to a meeting 
to be held next week. Comment is unnecessary. 

The foregoing records of suffering, crime and death are ex- 
tracts taken from the papers of Chicago, Detroit, Cleveland, St. 
Louis, New York and Boston, all occurring within the last ten days 
of January, 1897, three months after the election of Wm. McKinley 
president. One hundred pages would not suffice for space to 
publish all. The few noticed are purposely taken from the papers 
of the cities named, that the reader may know the trouble is not 
local, but general, extending over the whole country and evidently 
from the same cause; not as in India, caused by famine, but be- 
cause of the non-employment of three millions of men, willing, yea, 
anxious, to work, but forced into idleness by the men who so con- 
trol the finances that money is placed beyond the reach and use of 
the middle classes. The money we have is congested in the great 
cities, as fatal to the people and business interests as is congestion 
of brain or lungs to human lives. The sad experiences of 1893-96, 
it is hoped, may never be repeated. 

"Experience wounded is the school 

Where man learns piercing wisdom, out of smart." 



CHAPTER XII. 

NERO DANCED AND REJOICED WHILE ROME BURNED. 



BY THE AUTHOR. 

"Do not insult calamity 
It is barbarous grossness to lay on 
The weight of scorn, when heavy misery 
Too much already weighs men's fortunes down." 

During the scenes of woe caused by the acts of the moneyed 
men and financial combines of our chief money marts, as shown by 
the preceding chapter, "Starvation in the Midst of Plenty," the mill- 
ionaires of New York City, were more interested in arranging for 
magnificent displays of dress parties, fancy dress balls, and for a 
larger expenditure of money than ever before at the then nearby 
time of the inauguration of President-elect McKinley. So marked 
has been the contrast, that for once the occupants of some of the 
wealthiest churches became alarmed and have spoken as never 
before. Among the first to see approaching danger and warn 
against it was Rev. Dr. Rainsford, of St. George's Church, New 
York City. Attention is called to his warning words: 

Pulpit Denunciation of Plutocratic Ways. 

I believe that the giving of lavish entertainments by the rich at this 
time is politically, socially and ethically unwise. I do not wish to be un- 
derstood as condemning any persons or warning against any particular 
entertainment. I speak generally and because I believe that those who have 
wealth should not at this time aid in spreading the feeling of discontent 
among the poor. 

The political importance of New York is threatened by the attacks 
which have been made upon her in the west, and ostentatious entertain- 
ments and extravagance would furnish fresh texts for further attacks. 

I think the commanding political importance of New York has de- 
creased in the last fifteen years, and I think the time has come for some- 
thing to be done that will check, instead of increasing, this loss of influ- 
ence. A large part of the country's population is crying out against 
existing conditions, and ostentatious display here in the east would only 
widen the breach between this section and the west. 

Never were the lines between the two classes — those who have wealth 
118 



.„ ■ • • .,„.... .. 




GENERAL ULYSSES S. GRANT. 

THE CITIZEN. THE GENERAL. THE PRESIDENT. 

The recent dedication of the magnificent tomb where have been de- 
posited the remains of him who rose to the zenith of civil and military 
honor and power possible in the United States, and the eloquent speeches 
made on that occasion, giving historically the events of his life, render 
an elaborate biographical sketch herein unnecessary. The portrait was 
obtained from Col. Fred Grant, being regarded by the family as the best. 



NERO DANCED AND REJOICED WHILE ROME BURNED. 119 

and those who envy them — more distinctly drawn. No longer ago than 
November 3, more than 6,000,000 persons expressed their conviction that 
the existing conditions were unsatisfactory. Whether we like it or not, it 
is an incontrovertible fact that a large portion of our population is discon- 
tented, and does not hesitate to express its feelings. Extravagant enter- 
tainments draw attention to and accentuate existing social differences and 
to the widening chasm between the rich and the poor. 

I believe in social entertainments; but there should be a reasonable 
limit to display and a reasonable time chosen for it. Money is not the root 
of evil; the love of money is. That text is directed against the envious poor 
man, as well as against the selfish rich man. To gratuitously increase dis- 
content by accentuating the poverty of the unfortunate in such days as these 
is an action greatly to be deplored. 

This plain speech stirred up the church; its members had not 
usually heard that kind of practical religion talked; aristocratic 
members, as was to be expected, condemned, and a flurry followed. 
Other ministers talked. Mr. Moody was in the city of New York 
at the time; he too spoke on the side of the people. Philanthropic 
members of the church saw the bright star of hope for the poor; the 
hope that the teachings of Him whom they professed to follow were 
to become a practical part of their worship. "In so much as ye 
have done it unto one of these, ye have done it unto Me." An 
American poetess beloved by all the people, said: 

If riches were consigned to me, 
No griping hand should clutch the pelf; 

For valueless the gold would be, 
If hoarded only for myself." 

Rev. Moody and Rev. Dr. Strong spoke bravely: 
"Things look bad," said the revivalist. "All these great fortunes have 
been accumulated in the last thirty or forty years, and the world has never 
known anything like it. The poor and helpless seem to be increasing all 
the time. The moderately well-off are falling among the poor and the 
very rich are growing richer every day. Something is wrong and it is time 
for the churches to find out what it is and to apply the remedies. The 
churches of this country have the numbers and the wealth to do it, but the 
trouble seems to be that the religion is dominated by the wealth instead of 
the wealth by the religion." 

The author of that famous book, "Our Country," the Rev. Dr. Josiah 
Strong, said that he was disappointed that Dr. Rainsford did not give a 
wider scope to his denunciation. "It is the height of folly for any one to 
say that the extravagance of the rich is good for the poor," said Dr. Strong. 
"As Ruskin has said, 'So long as there are cold and nakedness in the land 
around you, so long there can be no question that splendor of dress is a 
crime.' And this passage from Ruskin's 'True and Beautiful' expresses the 



120 THE SILVER SIDE— Campaign Text-Book. 

entire thought as no other has expressed it: 'Do not cheat yourself into 
thinking that all the finery you can wear is so much put into the hungry 
mouths of those beneath you. It is not so. It is what you, yourselves, 
whether you will or no, must some time instinctively feel it to be — it is what 
those who stand shivering in the streets, forming a line to watch you a*s 
you step out of your carriages — know it to be. Those fine dresses do not 
mean that so much has been put into their mouths, but that so much has 
been taken out of their mouths.' " 

Dr. Peters, another New York City pastor, was advertised to 
speak on the "Extravagances of the Wealthy." It was generally 
understood that he was to speak on the Bradley-Martin ball. Con- 
sequently the wealthier element was absent. Nevertheless the 
speaker gave the following plain gospel truths: 

In all seriousness, I ask, are we not falling back into the reckless and 
sensual prodigalities of heathenism? Expenditures on balls, banqueting 
and indecent entertainments are growing vulgarly lavish and ostentatious, 
while tens of thousands of our citizens are clothed in rags, shivering in the 
cold, crying for food. In our ostentatious display of wealth, in the gradual 
cultivation of taste and the ever-widening chasm between the rich and the 
poor, I see peril to our republic 

That a man can do as he pleases with his money is the eternal falsehood 
that mothers all our woes. Sacrifice, and not selfishness, is life's law. The 
life which is not self-sacrificed in the service of others is an immoral life. 
Our men and our women can solve our social problems by the right use 
of wealth, as many of them do, but wasteful, luxuriant extravagance, uni- 
formly corrupts good manners and lowers public morals. Are the times not 
evil? Look at the picture. Appalling poverty throughout this rich coun- 
try; billions in brawn and earnings to be expended before the people re- 
cover; gaunt and hideous starvation; freezings; an epidemic of suicides 
among the weak and hopeless; pastors of New York churches begging 
their affluent parishioners not to make too ostentatious display of their 
wealth; $300,000 suppers and balls; millions to be spent by partisans in the 
pomp and display of the inauguration; millions of wealth piling up; on 
every hand sumptuousness, comfort, extravagance, while the people are 
steadily sinking lower in the scale of equal rights. 

The foiegoing sentiments of the few pulpit orators who had the 
courage thus to face their popular congregations are gladly re- 
corded. Few, indeed, they were compared with the greater number 
of churches of our chief cities that remained silent. It will be no- 
ticed that their appeal to the wealthy is largely based on the argu- 
ment of threatened danger to themselves, and their vast possessions, 
if oppression of the masses continued. It is hoped that these brave 
utterances may not cease with the temporary passing away of the 
present unusually severe deprivations. Let the pulpits all over the 



NERO DANCED AND REJOICED WHILE ROME BURNED. 121 

land now as bravely strike at the producing causes. If these minis- 
ters, and others like unto them, will follow in the footsteps of Him 
they profess to serve, they will not cease their good work of minis- 
tering to the suffering victims of greed, but they will visit every tem- 
ple of the money changers, and with the lash of public disapproba- 
tion drive out these oppressors of the poor, they who- have made 
the temple of religion like unto a den of thieves. Especially could 
immense good be accomplished by appeals and a statement of facts 
to their wealthy New York and English parishioners, who by the 
potency of their gold, have procured legislation that has resulted 
in the destruction of half of the country's constitutional money. 

Contest Between the Money Power and the People* 
Verily this is, indeed, a contest between the money power and 
the people. It is a struggle for humanity, for the purity, the in- 
tegrity of the government. Lovers of country and home are greatly 
encouraged to hope for the best results when passing events arouse 
to action such men, and to the utterance of such inspiring sentiments 
as are herein given. Those who are thus inspired should go among 
the people and awaken them to the peril of the country. Never 
was there a better opening to a field of usefulness for the young men 
of the United States than the present. Perhaps no presidential 
campaign in the history of the country* has been of greater impor- 
tance. The year i860 witnessed a civil war; the union's destruc- 
tions or preservation was at stake; thousands of young and middle 
aged men from every state rushed to the front, to do or die for the 
right as each viewed, differing largely according to their education 
and surroundings. That great national peril passed; now the con- 
test is no less important. The contending forces are not now as 
then organized and divided on local lines; the contest is one of bal- 
lots, not bullets. Nevertheless, there are opportunities for young 
American voters to distinguish themselves in work less dangerous, 
but no less honorable. The questions at issue require but little study 
to understand sufficiently well to vote intelligently, and by keeping 
posted on passing events of imparting instruction to others. To 
the man thus desiring to be useful in directing public sentiment, it 
is believed "The Silver Side, 1900 Campaign Text-book," with its 
facts and arguments in favor of the restoration of silver, will be an 
almost indispensable, certainly an efficient, assistant. 



CHAPTER XIII. 

EDUCATIONAL ENDOWMENTS AND INDUSTRIAL 
BONDAGE. 

BY WALTER THOMAS MILLS, A. M. 

Educational endowments are funds given to the schools, not 
for the purpose of paying current expenses, the construction of 
buildings, or for providing the apparatus. Endowments are funds 
given to the schools, the interest on which, only, is to be used for 
the payment of current expenses, such as teachers' salaries, fuel 
and the like. It is the purpose of this communication to call at- 
tention to the relation of these funds to the question of the higher 
education, but especially their relations to the industrial classes, 
who by their poverty are excluded from the advantages of the 
schools, and who by the system of endowments are required, 
through payments of interest on college funds, to support the 
schools, of the benefits of which they can have no share. 

I am ready to admit that when these endowments were first 
undertaken, say a thousand years ago, there were good reasons, 
inherent in the industrial situation, for their existence. It was 
then very difficult to make a living. I mean, the processes by 
which the necessities of life were provided were difficult, and the 
hours of labor necessary to provide for one's comfortable existence 
were necessarily long and toilsome. Then a woman working 
twelve hours a day could weave but eighteen yards of cloth in a 
week. The soil was turned with a wooden plow, or more fre- 
quently a spade. The planting, cultivating and harvesting were all 
done with the rudest tools. The grain was gathered with a sickle, 
it was threshed with a flail, it was winnowed with a fan, it was 
ground with a hand mill. A fairly comfortable provision for one's 
physical existence involved a heavy task upon his physical endur- 
ance. If the higher education was to be undertaken, if the benefits 
of society to be secured by at least a portion of the community 
having the opportunities for study were to be obtained, then the 
leisure of the few could only be provided by the longer hours of 
labor by the many. 

But there was another reason more potent, and for which no 
generous impulse can find a possible apology. When the schools 

122 



EDUCATIONAL ENDOWMENTS. 123 

were established, when the ancient university, which has grown 
to be a modern university, first came into being, the feudal system 
was in force. When the parish school, or the cathedral school 
grew into an institution for the higher learning there was the castle, 
the drawbridge, the knight errant, the arrogance of the nobility, the 
humiliation of the toiler. Toil was the badge of submission, the 
mark of degradation, while the profession of the warrior, the func- 
tion of government, the right to be at leisure, carried with it the 
privileges of learning. Now, it occasionally happened in those 
days, as now, that when the Lord put a genius to living in the 
world he did not always confine his attention to the wealthy and 
to the privileged classes. These endowments, born out of the 
heart of the eternal, struck the hovel of "the peasant, and through 
the ancient church even the lowly were sometimes the beneficiaries 
of learning. But if the power to see the true, and the beautiful, 
and the good, and to make these speak in verse, in philosophy, 
and to live in canvas had been given to the poor out of the hand of 
his Maker, if God made him a genius, society proceeded at once to 
make him a gentleman. In other words, in days of old, as some- 
times happens now, the possessor of wealth arrogated to himself 
not only the earth, but insisted upon a first claim on the genius 
which could understand its mysteries and reveal its secrets. The 
ancient gentleman lived by toil, but like the modern gentleman, he 
lived not by his own toil, but by the toil of others. If the genius 
born in a hovel was to rank with the aristocrat who claimed for 
himself not only the products of his brother's toil, but the fruits 
of his brother's genius, then he too must be provided an oppor- 
tunity to live with his hands unstained by* toil. Hence, the endow- 
ment, first, in order that leisure for learning might be possible, 
and secondly, in order that the disgrace of labor might not attach 
to the scholar who was to be the associate of the despoiler of labor. 
But then the occasion for the endowment, whether for reasons 
worthy or reasons unworthy, or as I believe for a mixture of both, 
whatever services the endowment may have rendered in the past, 
it is no longer necessary, because leisure is now within the easy 
and certain reach of all. The endowment could never be justified, 
except that the light of learning could not come except by the toil- 
er's sacrifice that the student might study. It is no longer neces- 
sary for one man to sacrifice the intellectual life which is the right 
of all, in order that another may follow a scholarly career. 

Hours of Labor Required to Provide Necessaries of Life Lessened. 

Each man of us, if we will, may now produce our living with a 
few hours of labor, and we may every one of us belong to the 
leisure classes, not because we live from the products of our over- 



124 THE SILVER SIDE— Campaign Text-Book. 

worked brothers, but because providing for ourselves we may still 
have long hours of leisure, which wise men will devote to intellec- 
tual and social purposes. Never in the history of the world was it 
so easy to produce a living as now. I believe that it is also true 
that it has rarely been so hard to get a living after it was produced. 
But the getting of what we produce is no fault of productive proc- 
esses, it is the fault of distribution. Endowments will not help the 
unjust and faulty system by which we undertake to get our living 
after our toil has produced it. The remedy is not more endow- 
ments, it is in better organization. In the olden time a weaver 
wove eighteen yards of cloth in a week. Now she weaves two 
thousand and with new machinery not yet in place, which it is 
said will displace one-half of all the weavers in the country, a 
single weaver may produce in a single week four thousand eight 
hundred yards of cloth. The average of wheat production for the 
workers employed on the great farms makes a single worker in 
a single summer produce wheat enough, which, if ground into 
flour and baked into bread, would furnish bread for a family of 
five people for a period of one hundred and fifty years. Why 
should we go ragged and hungry when it is so easy to produce food 
and clothing? Why should one man toil to feed and clothe another 
when the processes of production are so simple, so easy, so fruitful? 
Why not each man as a factor in a more perfect organization of 
industry first feed himself, clothe himself, and then let the others 
who have been riding on his back despoiling him of the products 
of his labor, take a turn of feeding and clothing themselves also? 
Then no endowments will be necessary. 

Endowments Pernicious, Undesirable. 

But the more serious indictment is not that these endowments 
can be disposed of, but that they ought to be disposed of, that their 
presence and their influence are directly pernicious. These en- 
dowments still encourage the vulgarity of wealth in its attempt to 
monopolize learning, to claim for the well-to-do only the ad- 
vantages of high thinking and worthy living. The Omaha bishop 
who declared during the presidential campaign of 1896 that the 
source of our discontent was in the overeducation of the farmers' 
boys is a fair illustration. He said the farmers' boys were becoming 
ambitious to be gentlemen, while they ought to be toilers, ought 
to be left on the farm, to be suited with the lot to which God has 
called them. The new civilization gives a new meaning to the 
old term gentleman. It is not because the farmers' boys are too 
anxious to cease toil in order that they may be gentlemen. It is 
because the bishop and his associates err in their arrogant and un- 
seemly assumption that to be learned means to be idle, to be intel- 



EDUCATIONAL ENDOWMENTS. 125 

ligent means to be a robber, to know something means to do noth- 
ing. This idea of the dignity of fortunate indolence and the wrong 
of ambitious poverty is inseparably connected with the spirit that 
lives and breathes in the atmosphere of educational endowments. 

The dignity of labor demands that all shall toil, that the wisest 
and the best, the greatest of all shall be the servant of all. To be 
idle must cease to be the badge of learning. To be industrious 
must become the mark of a gentleman. Indolence for men and 
women, for any human life, is discreditable. No gentleman should 
consent that another shall do for him the toilsome and disagree- 
able things incident to his living on God's earth and in the midst 
of his Father's children. 

Again, the endowments are not desirable, because they make 
the opportunity to teach at all in the great institutions of learning 
conditioned on keeping the peace with the enemies of society. The 
real enemies of society are not the ill-formed, ragged, homeless peo- 
ple. They are not even the corporations, the trusts, and combines, 
whose existence necessarily involves the hungry and ragged multi- 
tude. The real enemies of society are forces which have outgrown 
any occasion for their existence. Forces which make the trust and 
the combination inevitable, and which make the harvest of disaster 
as certain as is the coming of the seasons. These enemies of so- 
ciety through forms which the laws justify, with authorities which 
the courts enforce, organize their life, manage their affairs for the 
purpose of securing through stocks or bonds or mortgages what 
the old slave system secured through the stinging lash. The old 
slave system fed its victim while he was able to toil, and then some- 
times turned him out to die. But this modern system anticipates 
the infirmities of age, and cuts off the toiler from the opportunity 
of living in the midst of his years. 

How shall an educational institution realize on farm mortgages 
and not justify the whole system by which the mortgage shark, 
the bond holder, and the oppressor — not that these men are bad, 
but that the system is infamous — how shall the educational institu- 
tion be itself a leech on the body politic, and at the same time strive 
in any way or to any degree to relieve society from the forces 
which are sapping its life blood? Wisdom must make its peace 
with greed. Genius must harness itself to plunder. The interests 
of the Rockefellers who give the endowments and the Harpers who 
realize on the investments are one. Great learning in the schools 
and great infamy in the market join hands. And when the teacher 
refuses to give his hand he can no longer take, even if forgetting his 
self-respect he were willing to take the fruits of commercial plunder. 



126 THE SILVER SIDE— Campaign Text-Book. 

Colleges Silent on Economics Directly Affecting Industrial Subjects. 

As a result of the conditions under which instruction is given 
on economic topics in this country notice the silence of the great 
schools, except when they speak in defense of their great benefac- 
tors, regarding every question which affects the industrial interests 
of society. Where is Professor Bemis? Why did he lose his 
place in the Chicago university? How does it happen that in 
the political campaign of 1896 the teachers of economics in the 
great institutions of learning said nothing, or said that the gold 
standard was wise? How does it happen that in the great uni- 
versity of the city of Chicago the pages of the daily press rang 
with their words of approval for the present order? Why did 
Henry Wade Rogers of the Northwestern university ask the good 
people to vote for the gold standard? Because it was wise? Be- 
cause it was just? Because it was fair to those of us the prices of 
whose products were cut in two by its operation, while debts, 
taxes, fixed charges, and interest payments on university endow- 
ments remained unchanged? You can find no other answer than 
the one I give you, than the reason Mr. Rogers himself affirmed. 
It would affect — unfortunately for the university — the purchasing 
power of the interest payments on the university endowment. So 
could every man who holds a mortgage, so could every man who 
has a fixed salary, so could every man who gets more than his right 
while the toiler gets less than is just, continue the defense of the 
gold standard infamy for the sake of his private income. There is 
another answer, these are the scholars of the country. They are 
wise. They understand. They are for the gold standard be- 
cause they know better than we. If they do, let them come into 
the open, let them meet us on the platform. Let them measure 
up in joint debate with those of us claimed to be their intellectual 
inferiors. 

Self-Reliance, Independence — Better than Endowments. 

But again, the endowment is undesirable because self-support 
is better. Shall we try longer to teach men to be self-respecting, 
self-reliant, by putting the atmosphere of chronic beggary around 
them during the years of their education? No lessons that come 
out of the dead past, no authority that can be gotten by any diploma 
ever written, can add so much to the manliness and strength of a 
human character as a fixed determination on the part of a boy to be 
his own master, to carry his own burdens, to earn his own living. 
And this the endowment policy makes impossible. They set a 
boy to work learning things out of books and then they build a 
gymnasium in order to make his blood circulate, in order to give 
him a strong body, where the young fellow may work a little while 



EDUCATIONAL ENDOWMENTS. 127 

each day without the particular disgrace of having done something 
useful while engaged at his task. The exercise necessary to keep 
one's body strong, if organized and equipped, is sufficient to feed 
and clothe and house him. But if it is not, by what possible right, 
by what principle of ethics, by what sentiment in religion shall you 
continue to compel the many to forego the opportunity to live on 
rational lines the full intellectual and social life of a man, in order 
that a few may have more than a man's chance, more than a fair 
opportunity in the same field? If the endowment funds of the 
Chicago university were invested in farm mortgages it would 
place a mortgage of at least $500 on each of the farms of not fewer 
than twenty thousand farmers. If each farmer's family averaged 
five members, for each student now in the university there would 
be somewhere near one hundred men, woman and children, toil- 
ing through all the years to meet the coming interest payment in 
order that one young man, a stalwart, able-bodied fellow, a master 
of baseball, a leader in the football gang, a toiler in the gymnasium, 
may have the advantages which might be within the reach of every- 
one of us. 

The Better Way, 

The educational problem is no longer how to realize on endow- 
ments for the benefit of the few who are inside the schools. The 
educational problem means reaching the darkened and deserted 
lives of the penniless and helpless, overborne through the very 
mortgage system which robs the toiler and leaves him in his ruin. 
Then for the sake of manliness, for the sake of fair play, for the 
sake of an opportunity for those excluded from the benefits of 
society, for the sake of the dignity of labor, for the sake of freedom 
of instruction in the schools, this is what we ask for, extending the 
equipment, and for abandoning the endowments of the great edu- 
cational institutions. I am giving my time to such a school. We 
are few in number. In March last we commenced our work, al- 
most penniless. Our equipment was very scanty, our resources 
were very few. But no one can visit the farm school, no one can 
study the work we are undertaking, where teachers and students 
alike toil for their living, and teach and study for the love of it, 
neither seeking for any reward in leisure and learning, save the re- 
ward which leisure and learning itself can offer, without being con- 
vinced that the plan is a wise one. The objection to our proposi- 
tion more frequently urged than any other is, that teachers will not 
come to us, but they are coming. The objection urged is that only 
large salaries can employ the best teachers. Our answer is, large 
salaries can only employ such teachers as can be bought. There 
are men who teach who are no longer in the market. The an- 



128 THE SILVER SIDE— Campaign Text-Book. 

swer is again, teachers are not only coming, but only the best will 
come. 

And finally, the answer which is absolute. No new thought 
ever came to the world, no inspiration ever moved its heart, no new 
ideal was ever wrought into form and being except the teacher 
who taught the new lesson, the builder who built the new temple, 
the reformer who wrought out the new life gladly and freely gave 
himself for the joy of his undertaking. The great teachers of the 
world have taught without reward. The great students of history 
have wrought out their lessons, maybe in penury, but never in 
greed. Socrates was a teacher. St. Paul was a teacher. Jesus 
of Nazareth was a teacher. His church was a school. Then, and 
now, for those who love wisest and best the glory of the humanity 
which they serve is the only and sufficient reward for their priceless 
services. 



CHAPTER XIV. 

LABOR NOTES. 

Vorking Men, Consider and Act, 

COMPILATIONS BY THE AUTHOR. 

To the more forcibly impress upon minds of the producers of 
all the wealth of the world the relation they hold to capital, under 
the present unwise system, especially in the proportion of their share 
of the profits, and their disproportionate burden of taxation, we 
have caused the drafting of a very good illustration of the subject, 
published in the Chicago Dispatch, a paper devoted to the interests 
of the people, the working classes particularly. The object lesson 
is so good, a half-tone electrotype was made and the picture appears 
on the preceding page. It needs no words of explanation; the chil- 
dren in the homes of the working men and women quickly compre- 
hend the meaning, and it is hoped the laborers will so profit by its 
teachings that, when next exercising their citizenship right, they 
will permit no threat from employer or by corporate body to re- 
strain them from casting a ballot in favor of the right against the 
wrong. 

Complement by the Editor. 

The cardinal principle in labor reform is th^ partnership of labor and 
capital, absolutely essential to the growth of civilization and the unity of 
capital and labor in all occupations. The improved conditions of existence 
flowing from this would soon give us a new world. 



Whatever the nominal wage rate may be, it is very certain that for sev- 
eral years past there has been more of idleness and more of actual suffer- 
ing among the poor than ever before. But the nominal wage rate is not a 
true criterion. In the main, wages have been kept up by labor organiza- 
tion, as everybody ought to know. But while the rate has been kept up 
fairly well in some callings, there are multitudes of unorganized laborers 
working at starvation rates, and multitudes more who have no work at all. 

Still again: If organized labor has succeeded in protecting itself moder- 
ately well during the last twenty years, is it not reasonable to believe that 
under prosperous conditions it could have done still better. 

It is simply impossible to improve the condition of the wage-worker, 

9 129 



130 THE SILVER SIDE— Campaign Text-Book. 

by lowering the prices of the things out of which all wages must be paid. 
That wages must be paid out of the products of labor should be clear to 
any one who stops for a moment and thinks. 

But again: It must be remembered that there are vast numbers of 
working people who have no regular wages. 

For example: No man, as a rule, works harder or longer hours than 
the farmer. His "wages" are what he can get for his crops over and 
above expense of production. If their prices fall, it is nothing less than a 
"cut" in his wages. 



Considerable interest is being manifested throughout the country in 
the new idea of holding revival meetings in the interest of organized labor. 
They are usually protracted for a week or ten days, and each union takes the 
full responsibility for at least one night, securing the speakers and making 
all necessary arrangements. Not to be behind the times, the Trades and 
Labor Assembly is to take steps to bring about the holding of a series 
of meetings in New York city the coming spring, either in some hall or in 
the open air. Wherever the system has been adopted the results have been 
most satisfactory. 



In New York an average of about six men are sent to the workhouse 
each day at their own request in order that they may not suffer and starve 
on the streets. 



It is proposed in Kansas to solve the convict labor problem by putting 
convicts to work at building roads and irrigating canals and raising farm 
products for the state institutions. 



One of the most promising signs of the times in the world of- organized 
labor is the evident disposition of the different trades organizations to come 
closer together to assist one another in righting a wrong, or to secure bet- 
ter conditions of labor, says the Philadelphia Ledger. This is evident by the 
remarkable increase in the number of central labor unions within the last 
few years. In nearly every city and town in the country such an organiza- 
tion exists, and they are becoming powerful factors in determining the 
right or wrong of the question or grievances brought before them. The 
influence of such organizations for good cannot be overestimated. The 
fact that the central labor unions are composed of representatives from 
all the different organized crafts, who submit to the central body for con- 
sideration or advice all the various grievances needing adjustment, and 
which by this means can be impartially judged, serves to lessen the number 
of ill-advised conflicts with employers. Nearly every enactment in recent 
years of labor legislation, either municipal or state, can be credited to the 
influence of the central labor unions. 



Attacked and denounced as scarcely any other institution ever has 
been, the unions have thriven and grown in the face of opposition. This 



LABOR NOTES. 131 

healthy vitality has been due to the fact that they were a genuine product 
for social needs — indispensable as a protest and a struggle against the abuses 
of industrial government, and inevitable as a consequence of that conscious- 
ness of strength inspired by the concentration of numbers under the new 
conditions of industry. They have been, as it is now admitted by all candid 
minds, instruments of progress. Not to speak of the material advantage they 
have gained for workingmen, they have developed powerful sympathies 
among them, and taught them the lesson of self-sacrifice in the interest 
of their brethren, and, still more, of their successors. ' They have brought 
some of the best men to the front, and given them the ascendancy due to 
their personal qualities and desirable in the interests of society. 

J. K. Ingram , LL. D. 

Give me the horny-handed clasp 
Of some good, honest neighbor, 
Who finds within the words I speak 
A strength for earnest labor. 

Give me the lifted, grateful smile 
Of some poor, fainting woman, 
Who knows that I regard her soul 
As something dear and human. 

Give me the fervent, heartfelt prayer 
Of just the toiling masses; 
To be remembered with their love 
Your boasting art surpasses. 

And this be mine, whate'er the fault 
Of manner, not of matter, 
Along the rocky ways of life 
Some living truths to scatter. 



"Labor, and Labor Only, Creates the Wealth of the Country ." 

"Go till the ground," said God to man, 

"Subdue the earth, it shall be thine;" 
How grand, how glorious was the plan! 

How wise the Jaw divine! 
And none of Adam's race can draw 
A title save beneath this law, 

To hold the world in trust; 
Earth is the Lord's, and He hath sworn 
That ere old Time has reached his bourne, 

It shall reward the just ! 



Two thousand capitalists own more than all the rest of the sixty-five 
millions of our population. Two hundred and fifty thousand rich men con- 



132 THE SILVER SIDE— Campaign Text-Book. 

trol seventy-five per cent, of the national wealth. The American republic 
is, therefore, practically owned by less than one quarter of a million of 
persons. If present causes which produce concentration of capital continue, 
the republic will soon be owned by less than fifty thousand men. 

Rev. Joseph Cook, in Tremont Te?7iple, Boston, February 3, 1890. 



There will dawn ere long in our politics, on our modes of living, a no- 
bler morning in the sentiment of love. Our age and history of these thou- 
sand years has not been the history of kindness, but of selfishness. Our dis- 
trust is very expensive. The money spent for courts and prisons is ill-laid 
out. We make by distrust the thief, the burglar, and incendiary, and by 
our courts and jails we keep him so. An acceptance of the sentiment of love 
throughout Christendom for a season would bring the felon and outcast 
to our side in tears and the devotion of his faculties to our service. Let 
our affection flow out to our fellows; it would operate in a day the greatest 
of all revolutions. The state must consider the poor man and all voices 
must speak for him. Every child born must have a just chance (with work) 
for his bread. Emerson. 



Nature's Lesson. 

Mark the working of the bee, fittest type of industry, 
How according to fixed plan (learn a lesson here, O man!) 
Does she build her waxen cell, and she builds the structure well. 
Now is* Nature's lesson taught in the work the bee has wrought; 
Thus within the human hive, all alike may build and thrive — 
None be rich and none be poor. 



Lack of Interest is Inexcusable. 

Every workingman should be a member of a labor organization, and 
should diligently strive for its good and welfare. Agitation on this line 
should be general. Lack of interest is inexcusable. One member mani- 
festing an inclination to shirk the duties imposed on him by his union cre- 
ates a like desire on the part of other members. This state of affairs, from 
a small beginning, gradually extends throughout the entire membership. 

Each member should take up and faithfully perform his allotted task in 
an alert and businesslike manner. Such an example causes others to be- 
come more energetic, and when the general membership consists of hustling, 
hardworking individuals the organization will thrive. Union meetings usu- 
ally last from two to three hours, according to the amount of business to be 
transacted. Members should take part in deliberations. They should 
arrange their affairs so as to attend regularly. Keeping away from meetings 
is a sure method of demonstrating disinterestedness in the workings of the 
organization. 



LABOR NOTES. 133 

Honor Dae Governor Hastings. 

A great victory has been obtained by labor over monopolistic incorpora- 
tions by the Pennsylvania law just enacted and approved. The day for 
labor's emancipation is dawning. Governor Hastings, of Pennsylvania, 
Friday signed the Weyler bill to protect the employes of corporations in their 
rights to belong to labor organizations. The bill provides for a fine of not 
less than $1,000 or more than $2,000, and imprisonment not exceeding one 
year, for any officer or agent of any corporation to discharge any employe 
for being a member of a labor organization, or seek to dissuade him from 
joining or belonging to any such organization, or to accept from any appli- 
cant for employment any agreement or promise not to join or belong to 
iuch organization. 




CHAPTER XV. 

SILVER DEMONETIZATION— HISTORICAL COMPILATION. 

BY THE AUTHOR. 

(For the statistical facts and much valuable matter connected 
with silver demonetization, as given in this chapter, the author is 
indebted to the National Bimetallist. ) 

At the beginning of the year 1873, the total mass of gold and 
silver money in the world was not far from $7,000,000,000 — about 
$3,500,000,000 of each. Leaving out of consideration the paper 
money circulating in certain countries, this amount of gold and 
silver constituted the world's stock of money. In every sale of 
goods for cash, some of it had to be used. In every sale on 
credit, the person trusted had to look forward to the time when 
he could get a sufficient amount of money to pay the debt. 

As early as 1867 the project had been mooted of establishing 
the gold standard in the United States, and from that time on 
it was quietly talked at the treasury department, by a few senators 
and representatives, and possibly in the highest banking circles. 
But it was never discussed in public, and the people were never 
consulted with reference to their wishes. 

In 1853 the weight of the half dollars, quarters and dimes had 
been reduced from 8-J per cent., their legal tender limited to $5.00 
and their coinage on private account stopped. This was intended to 
prevent their shipment abroad, the effect of which had been to make 
these small coins, scarce, causing inconvenience to those needing 
change. 

But, Director Preston to the contrary notwithstanding, it was 
in no sense a demonetization of silver. The "dollar" remained a 
full legal tender, and its coinage was unlimited. Although a private 
individual could no longer have his bullion coined into half dollars, 
quarters and dimes, he could still have it coined into "dollars," and 
these dollars were lawful money the same as the gold dollar. 

But on the 12th day of February, 1873, the mint law was re- 
vised, and the standard silver dollar was dropped from the list of 
coins. A trade dollar y\ grains heavier was substituted. 

As there were but few standard silver dollars in the country, 
this amounted practically to the demonetization of silver. The trade 

134 




CHAS. A. TOWNE, of Minnesota, was born in Michigan, Novem- 
ber 21, 1858. He was educated in the public schools and university of 
that state. Admittted to the bar in 1886, and removed to Duluth in 1870. 
Took active part in all campaigns, but never ran for office until elected 
to the Fifty-fourth Congress as a Republican. The St. Louis gold plat- 
form drove him, with other thousands, into a Silver Republican party. He 
is now Chairman of the National committee, and no one man is doing more 
effective work than he against the single gold standard and the wily 
schemes of the money power. 



SILVER DEMONETIZATION— HISTORICAL COMPILATION. 135 

dollar was not intended to be legal tender at all, but when the 
general revision of the statutes took place early in 1874, the legal 
tender of ^//silver coins was fixed at $5. This made the demonetiza- 
tion of silver complete in the United States. 

Silver was no longer available, except in small sums not ex- 
ceeding $5, and our vast debt, public and private, instead of being 
payable in "coin" of either metal, became payable in gold alone. 

In 1786 the United States, then merely a confederation, adopted 
the double or bimetallic standard, providing for both gold and sil- 
ver coins of full legal tender, but without any actual coinage, the 
country having no mint. 

In 1792 a mint was established, and the coinage of both gold 
and silver was authorized at the ratio of 15 ounces of silver to 
one of gold. 

The reader will carefully note the difference between this Ameri- 
can ratio and that of France. At the French mint, an ounce of 
gold coined into the same amount of money as 15J ounces 
of silver. At our mint an ounce of gold was only equal to 

15 ounces of silver. Compared with the French mint rate, gold 
was worth 3 per cent, less for coinage purposes in this country 
than in France, while silver was worth 3 per cent. more. 

Partly owing to this fact and partly owing to trade conditions, 
our coinage of gold was quite small, but with the exception of 
the years 1816-1817, we coined some each year, also coining con- 
siderable amounts of silver. 

But the gold did not remain in circulation here very long. Being 
worth 3 per cent, more for coinage in France, it was naturally 
attracted to that country. When we had to make a specie pay- 
ment in Europe, we sent gold in preference to silver, because it 
would go 3 per cent, farther in buying goods or paying debts. 

This made gold scarce in our currency. To remedy it, in 1834 
our ratio was changed; but, instead "of adopting the French ratio, 
15J to 1, we jumped over it to 16, or, more accurately, 15.988 to 1. 
Sixteen to 1 is near enough for general discussion, and that term 
will be used hereafter. 

The conditions of coinage were now reversed. Instead of gold 
being worth 3 per cent, less in our mint than in France, it was worth 
3 per cent. more. An ounce of gold in our coinage was equal to 

16 of silver, while in French coin it was only equal to 15J. 

The movements of specie were modified accordingly. Silver 
was now the more desirable metal for export, because it would 
make 3 per cent, more money at the French mint rate than it would 
here. 

But, as formerly with gold, there was always some silver coined 
and some in circulation; so the United States was, in the fullest sense, 



186 THE SILVER SIDE— Campaign Text-Book. 

a bimetallic country. The American people at all times had a right 
to the free coinage and full use of both metals as money. The 
amount of the coinage was immaterial as affecting the principle. 

We had the tight to coin it and use it after it was coined. This 
is the essential principle of bimetallism. 

The right existing, both metals will necessarily be used to the best 
possible advantage. If silver is better for export, that metal will be 
exported. If gold is better for export, that is the metal which will go. 
But whichever, is exported the most largely, it will always be for FULL 
VALUE in return, and that which remains at home will be good atid 
honest money for the transaction of our business. 

How and Why Silver "Was Demonetized. 

The demonetization of silver in the United States has never been 
satisfactorily explained. 

It has been repeatedly charged that it was done fraudulently, 
and by criminal tampering with the official records of the United 
States senate. This has been just as positively denied, which was 
natural enough. If demonetization was accomplished by a trick, 
of course, those engaged in it will stoutly protest their innocence, 
and those who were not in the senate at the time do not know 
whether there was any trick or not, except as they may draw their 
conclusions from the Congressional Record. 

Three things, however, are perfectly plain. First, at the time 
the bill passed the senate there was not a single word of debate 
on the subject of demonetizing silver. What discussion took place 
was upon other features of the bill. Second, when the bill 
was returned to the house with the standard dollar left out, it was 
concurred in without any debate whatever. Third, the daily press 
of that period made no mention of silver having been demonetized 
by the bill, and, fourth, Senator Sherman appears to be about 
the only prominent participant in the work who admits a knowledge 
that silver was being demonetized. 

Senator Beck of Kentucky said on the ioth day of January, 1878: 

It was never understood by either house of congress. I say this with 
a full knowledge of the facts. 

Mr. Kelly of Pennsylvania said on the 9th of March, 1878: 

Though chairman of the committee on coinage, I was ignorant of 
the fact that it would demonetize the silver dollar. 

Senator Thurman said in 1878: 

When the bill was pending in the senate we thought it was simply 
a bill to reform the mint, etc., and there was not a single man in the 
senate, I think, unless a member of the committee from which the bill 
came, who had the slightest idea that it was even a squint towards de- 
monetization. 



SILVER DEMONETIZATION— HISTORICAL COMPILATION. 137 

Mr. Cannon of Illinois said in 1876: 

It was not discussed as shown by the Record, and neither members 
of congress nor the people understood the scope of the legislation. 

And so, instance after instance might be given of prominent 
Republicans, Senator Allison among the number, and prominent 
Democrats, who were in congress at the time, disclaiming all 
knowledge of intentional demonetization. 

At that time there was no sneering talk of "cheap," "debased" 
silver. The gold dollar was then the cheaper one, being worth 
three cents less than the silver dollar. Indeed, the only excuse 
that any one offers for the act is that silver was too valuable to 
be corned. 

Mr. Sherman gives that as his reason, saying that the silver 
dollar was then worth about 3 per cent, more than the gold dollar. 

In 1868, the coinage of silver dollars was 182,700; in 1869, 
424,300; in 1870, 445,462; in 1871, 1,117,136; in 1872, 1,118,600, 
and for the first 43 days of 1873, 296,600, which rate, if continued, 
would have made a coinage for the year of considerably over 
2,000,000. 

There was absolutely no reason for the demonetization of silver 
in the United States. The small coinage of previous years was 
well known to be owing to the difference between our ratio and 
that of France. 

Instead of destroying one of the metals entirely as money, the 
ratio should have been changed to conform to that of France, and 
the right of the people to the full use of both metals as money 
should have been preserved. 

This matter, says the editor of the Bimetallism is referred to 
at this point, not because the particular circumstances of silver de- 
monetization are themselves so important, but because of the 
character of the objections now made for its restoration. 

It is boldly assumed that silver was demonetized because it 
was "superabundant and cheap," when in fact it was then the 
dearer metal. The demonetization has made it cheap — that is, com- 
pared with gold. 

In relation to other things, silver is not cheap, as will be shown 
further on. Nor was it superabundant, for in the year 1872 the 
production of gold was $34,000,000 greater than that of silver. 

The gold standardists have created the conditions adverse to 
silver, and now they have the hardihood to urge those conditions 
as a reason why it should not be restored. Figuratively, they have 
knocked silver down, and now kick it for falling. 

However, silver was demonetized, whether openly or surrepti- 
tiously, honestly or dishonestly, its consequences were full of in- 
justice to the American people and injury to the country. 



138 THE SILVER SIDE— Campaign Text-Book. 

The Effect of Demonetizing Silver* 

The effect of thus closing our mint to silver was not immediately 
apparent. Specie payments had been suspended since 1862, and 
except on the Pacific coast neither gold nor silver was in circula- 
tion. 

The people were not thinking about coinage. It scarcely at- 
tracted the attention even of silver miners until a year or two later. 
This was because the mints of France and the other states of the 
Latin union remained open to the coinage of silver until about the 
close of the year 1873. Consequently the value of the metal was 
fairly sustained. For the entire year 1873 the value of the silver 
in a silver dollar averaged a small fraction over 100 cents. 

There would probably have been no decline at all, but for the 
fact that the output of the mines, together with that which Ger- 
many was throwing upon the market, crowded the mints of the 
Latin Union beyond their capacity, causing a delay in getting re- 
turns. 

But in 1874-5-6 there was a general limitation of the coinage 
in those countries, and silver dropped more rapidly. In 1874 the 
bullion value of the dollar went as low as 97 cents, the average 
being 98.9. In 1875 it dropped to 94, the average being 96.4, while 
in 1876 it went down much more rapidly, reaching 79 and averaging 
for the year about 89. 

This heavy loss of value naturally aroused those who were 
engaged in producing silver; but during those years so marked 
and extraordinary a change in general business conditions occurred 
as to arrest the attention of economists, monetary writers, and busi- 
ness men throughout the whole civilized world. 

This was nothing less than a sudden and extraordinary fall in 
the prices of staple commodities, accompanied by a business de- 
pression so widespread and long continued as to be characterized 
as ''phenomenal." 

During the 20 years preceding 1873 prices had risen 18 or 
20 per cent. — say 1 per cent, a year. It was a period of general 
industrial activity, marked by many new inventions, railroad build- 
ing, improvements in ocean travel, and greatly increased produc- 
tion. Still prices rose steadily, and take it all in all, it can be fairly 
said to have been the most prosperous 20 years in the world's 
history. 

Suddenly everything was changed. Instead of continuing to 
rise or even to remain stationary, prices turned the other way, and 
descended the incline more rapidly than they had risen. 

There is no higher authority living on the general course of 
production and the rise and fall of prices than Augustus Sauer- 



SILVER DEMONETIZATION— HISTORICAL COMPILATION. 139 

beck of London. His figures are universally accepted by gold 
standardists and bimetallists alike. 

Average Gold Prices of Commodities and Silver Forty-Nine Years. 

Calculated by Augustus Sauerbeck, Esq., of 3 Moorgate St. 
Building, London, and published in the journal of the Royal Sta- 
tistical Society, London, September, 1886, March, 1892, and March, 
1895. The commodities are the 45 leading articles of commerce. 
His work shows the greatest care and is accepted as reliable by all 
others who have undertaken the same work. The table is by index 
numbers. The 100 or index number, with which the average is com- 
pared for each year, is arrived at by taking the average prices for 
twenty-five years (1853-1877). With 100 thus used to represent 
this average price (1853 to 1877), the price of each year is compared. 
His calculation is on the ration of 15^ silver to 1 of gold. 

An examination of the table shows that the average of prices 
for 1871-74 was about 105. By 1879 tne Y na ^ fallen to 83. Thus 
we see that in five years prices lost more than they had gained in 
the previous twenty. 

The prices given are English, which represents a fair average 
of the prices in civilized countries, except as they may be individu- 
ally affected by tariffs and purely local -causes. 

Nothing is more common than for statesmen (?) and news- 
papers to assume that business conditions were all right until about 
the spring of 1893, when the panic of that year struck the country. 
Republicans generally ascribed that panic to the threatened change 
in our tariff policy, by the advent of the Democracy to power. Gold 
standard Democrats claimed that our silver legislation was the 
prime cause. At the present time it is claimed by gold standard- 
ists, quite generally, that ''times would be good," if the "silver 
lunatics would stop their infernal agitation." 

Hence the reader will do well to carefully note the fact that the 
business depression set in away back in 1873, closely following the 
demonetization of silver. Then it was that prices began to fall, 
business enterprise received a sharp check, and for the first time 
in our history America was filled with tramps. 

The condition was so abnormal that it was observed with anx- 
iety on both sides of the Atlantic. It is always wise to quote an 
opponent when it can be done to advantage; and, therefore, the 
following statement made in 1879, by Robert Giffin, one of the 
most eminent gold champions in England, and author of the work 
entitled "The Case Against Bimetallism," is worthy of careful 
consideration by gold standardists particularly. 

There is a general agreement that during the last few years there has 
been a heavy fall in prices. The fall in cotton and iron and the various 



140 THE SILVER SIDE— Campaign Text-Book. 

manufactures in cotton and iron is notorious, and for the rest, the losses 
in trade in almost every description of business have been such as to leave no 
doubt of a fall in price. It is usually a fall in price which cripples the 
weaker borrowers and causes bad debts, and this makes a beginning of losses 
by which the stronger borrowers are in turn crippled, farther fall in prices 
ensues, and more bad debts and losses are produced. When we see so 
many failures as are now declared, therefore, we may be sure that they 
are preceded and accompanied by a heavy fall in price. 

But the question for statisticians in such matter is not the fact of a 
general fall, but whether it can be measured and compared with other facts 
of a similar kind, and whether there is anything to show the fall to be of a 
more or less permanent character and not merely a temporary fluctuation 
which will be corrected by an immediate rebound; in other words, whether 
the average of two or three years, including the present, will or will not 
exhibit a decline when a comparison is made with a date two or three 
years back. 

Looking at the matter in this more definite way, I have come to the 
conclusion that not only is there a decline of prices at the present time 
from the high level established a few years ago, but that this decline is 
more serious than the downward fluctuation of prices usually exhibited in 
dull times, and that it may be partly of a permanent character unless some 
great change in the condition of business should occur at an early date. I 
think this can be shown without difficulty with the help of some well-known 
figures which have been published lately, and which I propose to analyze 
and sum up, after which I shall proceed to discuss the causes of this ap- 
parently serious decline of prices and some of the probable consequences. 

As Mr. Girfin states, a fall in prices, by reducing or destroying 
profits, always cripples trade and leads to business depression. 
Whatever the cause may have been, it is absolutely certain that the 
troubles began with the demonetization of silver in 1873. It was 
in consequence of these troubles that the movement for its restora- 
tion was initiated. 

The Appreciation of Gold. 

Keeping in mind what has been said with reference to the 
quantity of money, it will be easy to see why the demonetization 
of silver would naturally cause a fall in prices. It operated as a 
limitation of the money supply. Prior to that time both silver and 
gold had been freely coined in Europe and America. Suddenly 
the mints were closed to silver and nothing but gold was coined. 
, So much gold was being used in the arts that certainly not more 
than one-half, and probably not more than one-third of the annual 
product of the mines, was left for monetary use. 

Thus the supply of money was limited, while the supply of other 
things continued to increase. 



SILVER DEMONETIZATION— HISTORICAL COMPILATION. 141 

Theretofore the only exclusively gold standard countries had 
been Great Britain and Portugal, with about 50,000,000 of people. 
When the mints of Germany, and United States and the Latin 
Union were closed to silver, nearly 200,000,000 more people began 
to put forth a demand exclusively for gold that had previously 
been divided between gold and silver. 

The result was a sharp rise in the value of gold. That is, its 
purchasing power increased. It took more of other things to buy 
a given amount of gold. 
In short, prices fell. 

Bland- Allison Act of 1878. 

This fall of prices affected the producers, and also the debtors 
of America most keenly. The attention of the people was directed 
to the fact that silver had been demonetized, and an agitation be- 
gan for its restoration. 

As a result, the Bland bill, providing for the free coinage of 
silver, passed the house of representatives. In the senate Mr. 
Allison offered an amendment, striking out the free coinage clause 
and providing that the government should buy and coin not less 
than two million dollars' worth, nor more than four million dollars' 
worth of silver bullion each month, and that the dollars thus coined 
should be full legal tender, "except where othenvise expressly stip- 
ulated in the contract!' 

In this form, the bill passed, was vetoed by the president, but 
passed again over his veto. 

The execution of this law was entrusted to an unfriendly ad- 
ministration. It was treated as an unwise and dangerous measure. 
Instead of coining the maximum of $4,000,000 worth per month, 
or even $3,000,000, which would have been the average of the ex- 
tremes, only the smallest amount mentioned by the law was ever 
purchased and coined. 

Senator Sherman, then secretary of the treasury, now secretary 
of state under the McKinley Republican administration, expressed 
the opinion that no more than 50,000,000 silver dollars could 
safely be coined. The New York bankers combined against it, 
and the silver dollar was excluded from the clearing house. It 
was characterized as a "dishonest," "degraded," "debased" dollar, 
and it was discredited in every possible way. Doubtless Mr. Sher- 
man will now be even more subservient to the gold power than be- 
fore. 

Then, as now, the money power, and its subservient allies, de- 
nounced the friends of silver restoration as "cranks," "lunatics," 
and "knaves," "seeking to swindle honest men with cheap money." 



142 THE SILVER SIDE— Campaign Text-Book. 

The idea that money can be made too "dear" never enters the 
head of a "sound money" champion. 

But in spite of all opposition the coinage went on, and the effect 
was beneficial. 

The years 1880-82 saw a substantial reaction in business, 
with a slight upward movement of prices. 

But the measure was not big enough to permanently relieve 
. the situation. The purchases of silver being limited, a surplus 
was left upon the market, and the price of silver bullion continued 
to fall. 

The Bland-Allison act failed to restore silver as a standard 
money metal. That is, the value of the bullion remained below the 
value of the coin. As a result, the coin was not available for ex- 
port, except as bullion at a loss, and being generally rejected by 
the banks as a part of their specie reserve, it operated just the same 
as an addition of so much paper money to the currency. 

About the year 1882, the national banks began to contract their 
circulation, which neutralized the effect of the Bland law. Prices 
began to drop again, and an unfavorable reaction again set in. De- 
pression became general, both in Europe and America. By 1886 
it became so acute as to arouse the concern of the British govern- 
ment. 

Royal Commissions of J 886 and \ 887. 

In the first named year, a commission was appointed to in- 
vestigate the business depression alleged to exist throughout the 
United Kingdom. The commission did its work with the greatest 
care and reported that depression was almost universal through- 
out Europe and America, and extraordinary in degree. 

It fixed the beginning of the trouble at about the year 1873, 
the date of silver demonetization. It did not investigate the silver 
question itself, but advised the appointment of another commission 
for that purpose. 

Accordingly, in 1887, the Royal Gold and Silver Commission was 
created for the purpose of investigating the causes which had 
led to the divergence in value of gold and silver. This commis- 
sion also found widespread business stagnation, beginning about 
the year 1873, and that prices had fallen on an average 30 per cent. 

Mr. Sauerbeck stated in his testimony that in the United States 
wholesale prices had fallen 29 per cent. 

// reported that the main cause for the separation of the two 
metals was the demo?ietization of silver in that year. 

But the commission, consisting of half gold men and half sil- 
ver men, made no definite recommendations. 

In 1886 the United States commissioner of labor, in his annual 
report, stated that business depression existed to an extraordinary 



SILVER DEMONETIZATION— HISTORICAL COMPILATION. 143 

extent all over the civilized world, naming England as the greatest 
sufferer, and placing the United States second on the list. 

In 1890, David A. Wells, a gold standardise published his cele- 
brated work, entitled, "Recent Economic Changes." The basis of 
the entire work was the unusual and long-continued depression ex- 
isting throughout Europe and America. 

He begins his book with these striking words : 

The existence of the most curious, and, in many respects, unprecedented 
disturbance and depression of trade, commerce and industry, which, first 
manifesting itself in a marked degree in 1873, has prevailed with fluctuations 
of intensity up to the present time (1889), is an economic and social 
phenomenon that has been everywhere recognized. 

Commenting upon the phenomena of the industrial depression subse- 
quent to the early months of 1882, the director of the United States bureau 
of labor, in his report for 1886, considers the nations involved in respect to 
their relations to each other, and to severity of experience to stand in the 
following order: Great Britain, the United States, Germany, France, 
Belgium. 

So, while special industries may have done fairly well, while 
individuals continued to get rich, as some will, under almost any 
circumstances, and while peculiarly favored localities have flourished 
(that is, the moneyed classes in them have), there can be no reason- 
able doubt that from the year 1873 down to 1890 general busi- 
ness conditions were unfavorable, and that both in Europe and 
America the producing and debtor classes were most seriously 
injured by the continuous and heavy fall of prices, cutting down 
profits and crippling them in their debt-paying power. 

Competition of Silver-Using Countries* 

Constituted, as the Royal Gold and Silver Commission was, no 
valuable recommendations of policy were to be expected. But the 
testimony and reports are, nevertheless, a perfect mine of valuable 
information. 

They conclusively prove that up to the close of 1886, prices had 
fallen upon an average 30 per cent., and that silver measured in 
gold had declined at a rate almost exactly equal. 

Thus it appeared that the exchange value of silver had re- 
mained almost constant, for if commodities had fallen 30 per cent, 
(from the gold base) and silver had done the same, it follows as 
a mathematical conclusion that silver and commodities had not 
changed in their relations to each other. That is to say, an ounce 
of silver would exchange for the same quantity of goods as formerly. 

From this it necessarily follows that in silver standard countries 
prices had not fallen. The purchasing power of silver was un- 
affected in those countries, but gold was at a high premium. 



144 THE SILVER SIDE-Campaign Text-Book. 

Another fact of very great importance was developed, namely, 
that while the farmers and manufacturers of England and America 
were in distress, complaining of falling prices and hard times, the 
export trade of India had greatly increased, and cotton manu- 
facturing in that country was assuming proportions of surprising 
magnitude. 

In 1873 the total number of spindles at Bombay was 450,000. 
In 1886 they had increased to nearly 1,700,000. 

In 1874, India had exported to China and Japan about 3,000 
bales of cotton yarn. In 1886 it was 220,000 bales. And while 
this marvelous increase was going on, the exports of England to 
those countries were practically stationary. Incidentally it may 
be added that this extraordinary increase of cotton factories con- 
tinues. 

At the close of 1894, the number of spindles operating in India 
was nearly 4,000,000. 

These Indian cotton mills supply markets formerly dependent 
upon England, and obtain their raw cotton exclusively at home, 
while the English mills exported theirs chiefly from America. 

Besides, partly in England and partly on the continent of Europe, 
India was selling about 1,000,000 bales of cotton annually, and con- 
tinues to do so, even while supplying her own rapidly increasing 
home demand. 

The result was that the American cotton planter was brought 
into sharp and keen competition with the cotton grower of India, 
while the English factory was competing with the Indian factory. 

"Wheat from Silver Countries. 

The enlarged exports of wheat from India to England also com- 
mand attention. 

In 1873 the amount was less than 1,000,000 bushels. In 1886 
it had swollen to nearly 40,000,000, and since then it has reached 
50,000,000 bushels. Every bushel of this wheat was sold in com- 
petition with American, and both in wheat and cotton the compe- 
tition was on a silver basis. 

When silver began to drop in the London market it was to the 
advantage of the English importer to buy in India rather than 
the United States. With a certain number of pounds sterling he 
could buy more rupees than formerly, and with each rupee he 
could get as much wheat or anything else in India as he could 
before silver was demonetized. He could therefore afford to sell 
a little more cheaply than the importer from America could. The 
lower silver went in the market, the more rupees a pound sterling 
would buy, and consequently the more wheat it would buy. 

The stimulus to East Indian manufacturing was the same in 



SILVER DEMONETIZATION— HISTORICAL COMPILATION. 145 

principle, but the process was somewhat different. When the East 
Indian made purchases in England, he had to convert his silver into 
gold at a loss. In some cases he could keep even by getting the 
goods at lower prices, but in others he could not. In the latter 
class of cases, rather than suffer the loss, he began to manufacture 
for himself. 

The same considerations also induced the investment of Eng- 
lish capital in East Indian cotton mills, because a given num- 
ber of sovereigns would buy a greater number of rupees, and each 
rupee would do as much work as it ever would in India. 

Thus we see that the demonetization of silver had a double effect 
so far as the United States was concerned. First, it lowered prices 
generally, by diminishing the volume of primary money in Europe 
and America, and second, it brought the country into direct compe- 
tition with silver using nations. 

Producers and Non-Producers, Debtors and Creditors, 

The great fall in prices referred to not only depressed business, 
but it worked such a destruction of equities that it cannot be de- 
fended by any person understanding the question, who also knows 
the difference between right and wrong. 

It injured the producer for the benefit of the non-producer, and it 
fell with especial severity upon the agricultural classes and other 
producers of raw material. 

The manufacturer could generally recoup, and in a measure save 
himself by getting his raw material at lower rates. But the farmer, 
the miner, and other producers had no one behind them to whom the 
loss could be transferred. 

At the same time the burden of the debtor was increased for the 
benefit of the creditor. 

Every debt must be paid out of the price received for the prod- 
ucts of labor. If the prices fall, it is the same thing as an addition 
to the debt. 

If a man have a mortgage upon his property and the price of his 
product fall one-half, it takes just twice as much of it to pay the 
debt. In effect the debt is doubled. It may, however, result in 
something a great deal worse than this statement indicates. 

Debts are necessarily paid out of profits. Expenses must be 
met before the debt can be paid, and if the price be cut below the 
point of profit the debtor cannot pay at all. 

Take the case of a farmer with a $5,000 mortgage on his farm. 
With wheat at $1, corn at 50 cents, potatoes at 50 cents, and other 
things in proportion, his crop might be worth, say, $3,000. If we 
suppose his total expenditures to be $2,000, he has $1,000 left to 
apply on the mortgage. He can pay the debt in five years. If 



146 THE SILVER SIDE— Campaign Text-Book. 

prices are cut to one-half his crop falls to $1,500 and his expendi- 
tures to $1,000, leaving him only $500 to pay on his debt. Instead 
of paying it in five years, it will take him ten. 

But as a rule it does not work so favorably for him as that. 
There are some things which fall very little and others which do not 
come down any. Taxes, interest and many other things are prac- 
tically stationary. 

So it may very easily happen that the value of the stock will fall 
below the cost of producing it, and as a result nothing can be paid 
on the debt. As the value of the product falls, the value of the 
farm itself declines, and upon foreclosure the creditor takes it all. 

The predominant characteristic of the situation during the last 
twenty-two years has* been the distress of the producing and debtor 
classes, while the non- producing, money-lending a?id fixed-income 
classes have grown richer and richer, until the accumidation of wealth 
at the great mo?iey centers stands without parallel in the history of the 
world. 

One class of persons in the United States has been unaffected 
by the fall in prices, that is the office holders. Their salaries remain. 
Grover Cleveland has been getting $50,000 annually, but in view of 
the appreciation of the gold dollars, paid him quarterly, now $100,- 
000. With this appreciated dollar he can and has bought real estate 
at the present depreciated price; result, when elected president a 
poor man, now a millionaire. The same can be said of many mem- 
bers of congress, etc. The laborers and agriculturists have been the 
chief sufferers. 

The " Sherman Law," 

On the 4th of March, 1889, the administration of General Harri- 
son began. 

All over the country there was a very general complaint of dull 
times, and, except in the extreme east, a strong demand for silver 
legislation. 

When the fifty-first congress assembled on the first Monday in 
December, 1889, there is no doubt that a clear majority of both 
houses were in favor of free coinage. But the administration, 
Speaker Reed and a majority of the Republicans in both houses 
were opposed to such a measure. The senate promptly passed a 
free coinage bill, and sent it to the house. 

But the administration had its pet scheme known as the "Win- 
dom bill." The anti-Silver Republicans being in control of the 
house, blocked silver legislation until sufficient pressure had been 
brought to bear upon the less determined silver men in the Repub- 
lican party to induce them to accept the Windom bill as a substitute 
for free coinage. 



SILVER DEMONETIZATION— HISTORICAL COMPILATION. 147 

That measure passed the house by about 30 majority, the pro- 
nounced free coinage men voting against it. 

The bill provided for the purchase of four and one-half million 
ounces of silver bullion each month, to be paid for in treasury notes 
created for the purpose. These notes were to be legal tender ex- 
cept where otherwise stipulated in the contract, and were made re- 
deemable in gold, at the option of the government, in silver dollars, 
or in silver bullion, at the option of the holder of the notes. 

Before passing it had, however, been amended so as to admit 
of free coinage when the bullion was at par; that is, worth $1.29 
per ounce. 

The importance of this amendment was overlooked by many 
people at the time. 

The senate refused to concur, and the matter went to a confer- 
ence committee. There the four and one-half million dollars was 
stricken out, and the same number of "ounces" substituted; the 
provision for free coinage when parity was reached was also 
dropped, and the notes were made redeemable simply in "coin," 
which, of course, means either gold or silver. In the latter form 
the bill passed both houses and became a law. 

It received the name of "the Sherman law," from the circum- 
stance that Senator Sherman was a prominent member of the con- 
ference committee. 

If the free coinage clause had been retained and the law had 
been fairly executed, it is not unreasonable to believe that it might 
have settled the silver question. Under its operation, as it was, 
silver rose to $1.20 per ounce. With free coinage in prospect, the 
owner of the bullion would naturally, have held it back, hoping 
thereby to raise the market price to $1.29, when free coinage would 
have taken effect, and in all probability held it at that point. 

But the gold men opposed it for the same reason. Professing 
a desire to raise silver to a parity with gold, they were afraid of 
having the market "bulled." And yet almost every market quota- 
tion of anything in Wall street is the result of the manipulations 
of the "bulls" and "bears." 

The Baring Failure. 

For a time the beneficial effects of the Sherman law were quite 
apparent. The monetary stringency then existing in Wall street 
was relieved by the monthly issues of treasury notes, and business 
improved. But in the latter part of 1890 the great banking house 
of Baring Bros, in London failed, threatening disaster to the entire 
commercial world. The Bank of England was hard pressed and 
borrowed $15,000,000 in gold from the Bank of France. 

Large blocks of American securities were returned to this coun- 



148 THE SILVER SIDE— Campaign Text-Book. 

try and thrown upon the market, and during 1891 about $68,000,000 
of gold were exported in excess of imports. Still business moved 
along smoothly. As gold was exported the Sherman notes took its 
place, and while financial storms were raging in Europe and even 
away off in far Australia, in America all was serene. And so mat- 
ters stood until Mr. Cleveland was elected, in the fall of 1892. 

The Repeal of the Purchase Clause of the Sherman Law. 

The gold standardists have always at heart been opposed to "the 
Sherman law," and had intended to force its repeal at the earliest 
possible day. 

Mr. Cleveland was a strong friend of the gold standard, and im- 
mediately upon his election an effort was made to bring about its 
repeal. In the $26. congress this effort was made, and failed. 

But early in 1893 trouble began to brew. The great banks of 
New York demanded the repeal of the Sherman law, and exerted all 
of their influence to that end. They refused to extend credit, alleg- 
ing that they could not safely do so until that law was out of the way. 
In many cases they, called in their loans, forcing a large number of 
banks into liquidation, and thousands of business houses went down 
in ruin. No impartial reader can peruse these truthful and unde- 
niable statements without admitting our present and previous aver- 
ments, that the money powers through the banks was and is the 
party responsible for the panic of 1894, and all the troublesome 
times that have followed. The Republican members of congress 
joined hands with the Democrats in the work of repeal. 

The greatest panic of history struck the country, and idleness, 
poverty and suffering cast their blackest shadows into every quar- 
ter of the land. 

It is one of the marvels of the age that it was seriously claimed, 
and by many good people honestly believed, that a law which up to 
the spring of 1893 had been undeniably beneficial in its working, 
which had stood as a breakwater when the tides of financial trouble 
were running high in gold standard countries, was the cause of the 
disturbance which finally reached our shores. 

The McKinley law was upon the statute books during that same 
period, and yet life-long advocates of "tariff reform" suddenly for- 
got for a time their apathy to protection, and insisted that the "Sher- 
man law'' was the "Jonah." Republicans, some of whom claimed 
to be genuine bimetallists, joined in the hue and cry against the 
silver law, apparently hoping to thus protect the McKinley law. 

Mr. Cleveland was elected upon the tariff reform issue, and yet 
he at once became imbued with the frenzied idea that the repeal 
of the "Sherman law" was the one great and overshadowing issue 
before the people. 



SILVER DEMONETIZATION— HISTORICAL COMPILATION. 149 

Here we were in the midst of a "money famine," and it was actu- 
ally claimed that the ''Sherman law," which was giving us about 
$4,000,000 of new money each month, was the cause of the famine. 
It might just as reasonably have been said, in the midst of a foocl 
famine, that food was scarce because there was too much of it. 

But it was argued in all seriousness, and we were solemnly 
assured, that if we only cut off the supply of "Sherman notes" 
money would be again abundant, and business would boom. 

Mr. Cleveland called congress together in extra session for the 
sole purpose of repealing the purchase clause of that act. 

After a desperate struggle, in which the whole power of the 
administration was exerted to that end, the Democratic party was 
literally broken in two upon the question. The Republicans gen- 
erally voting for repeal, the measure was finally carried on the 1st 
day of November, 1893. 

Yes, the Democratic party was broken in two, hence the assem- 
bling in Chicago in the next national convention of the real Jef- 
fersonian, Jackson democracy, the ignoring of the gold standard 
leaders, and the nomination of Wm. J. Bryan, the brave, uncom- 
promising leader of the Free Silver party. Possibly the final re- 
sult may cause the awakening of the patriotic members of all parties 
to this question, paramount to all others ; all progress comes through 
sufferings, the lessons and experiences in this eventful period of our 
country's history have been costly. 

The Closing of the East Indian Mint. 

In the month of June, 1893, the East Indian mint was closed 
to the coinage of silver on private account. Within three days 
silver dropped from 82 cents an ounce to 63. Then it rallied back 
to 70 or 72 and there it stood until the "Sherman law" was repealed. 

This was done mainly for the purpose of keeping up the gold 
value of the rupee. As the gold value of the rupee (silver coin) 
fell, the East Indian government, heavily in debt to England, had 
to turn over more and more rupees to pay a given amount in gold. 
It was certain that the Sherman law would be repealed, and that 
silver would fall heavily in consequence, carrying the rupee down 
with it, and injuring the East Indian government greatly in its 
remittances to England. So time was taken by the forelock and 
the mint of that country closed in the hope that the rupee, by the 
limitation of its coinage, would retain the value which it then had — 
about 16 pence in gold; with silver at par, the rupee is worth 24 
pence. 

This action was used as an argument in favor of a repeal, and 
as an additional leverage the treasury department for the months of 
July, August, September and October, 1893, only bought about 



150 THE SILVER SIDE— Campaign Text-Book. 

two-thirds the amount of silver that the law required to be pur- 
chased. The total amount bought was less than 12,000,000 ounces. 
It should have been 18,000,000. The excuse given for not buying 
more was that silver "speculators" had the market "cornered" and 
were charging too much. When the reader considers that all of 
this time the market price was hovering closely about the 70 cent 
mark and further that as a rule there was only a small fraction 
of a cent difference between the silver accepted and that rejected, 
the absurdity, and even the falsity, of the claim becomes apparent. 

Speculation is always rife in Wall street and the "market price" 
of anything is what it can be bought for, when as, in this case, the • 
purchase is compulsory. The secretary had no more right to re- 
fuse to buy silver, because he thought it was too high, than he had 
to enter the market as a "bear," and attempt to force the price down. 
"Bulling" a market is just as legitimate as "bearing" it. 

This action was intended to keep the price of silver depressed 
and make its repeal come the easier. It was a plain violation of 
a mandatory provision of the law, and was as plainly impeachable 
as any official dereliction that ever occurred in the United States. 
It should also be borne in mind that there was at that time about 
140,000,000 ounces of silver bullion in the treasury. It was always 
claimed by the gold standardists that the "market price" was the 
true measure of the value of that bullion. Therefore, it was to the 
interest of the government to "bull" the market (i. e., raise the 
price) rather than "bear" it, and force the price down. 

If the price fell one cent, and a million ounces were bought, 
the government saved $10,000 on the purchase, but the 140,000,000 
ounces already in the treasury also dropped a cent an ounce, 
amounting to $1,400,000. Truly that was great financiering. Save 
$10,000 and lose $1,400,000 by the same act. 

All this time the law declared it to be the policy of the govern- 
ment to maintain the parity of the two metals — which could only 
be done by raising the market price of silver bullion. 

The Repeal Did Not Restore Prosperity. 

When the repealing act was under consideration, it was loudly 
proclaimed that prosperity would return within ten days after the 
"Sherman law" was out of the way. This was the cry of the 
goldite Republicans, the cuckoo Democrats and the "big" busi- 
ness men at the money centers. 

But ten days and ten months and twice ten months passed, 
with prosperity still away off in the future. The fever heat of the 
panic had abated, but the country had settled down into a coma- 
tose state, and business was apparently dead. "It is doubtful if 
ever in the history of our country any five previous years had 



SILVER DEMONETIZATION— HISTORICAL COMPILATION. 151 

shown as much of actual destitution and suffering as was crowded 
into the year 1894." 

When that sentence was written in the National Bimetallist, it 
was correct, but the year 1896 and thus far in 1897 has far sur- 
passed it, resulting from the same cause. If this was all, the coun- 
try could possibly conform to the terrible ordeal through which 
it is passing; but alas! there is no rising star of hope for the future; 
only this to encourage, that the pressure is becoming so terrible, 
the bonds fastened upon the people by the gold power will finally 
become so oppressive, even beyond human endurance, that Amer- 
ican citizens will rise in power and at the ballot box overthrow 
the plutocratic authors of all their woes. 

Bond Issues. 

Very soon after the repeal the discovery was made that some- 
thing more than a mere stopping of the money supply was needed 
to bring prosperity. Wall street was clamorous for bonds. If 
issued, they would serve a double purpose. They would furnish 
an investment for idle capital, and when issued, would stand as a 
basis for national bank circulation. 

So the cry was raised (at the money centers, of course,) that 
bonds must be issued, and then we would have "sure enough'* 
prosperity. With an administration entirely agreed, this was easily 
accomplished. 

In previous years the banks had furnished the most of the 
gold required for export. This they now refused to do, and the 
"endless chain" was set at work to drag the treasury. 

For years it had been declared by the gold advocates that it 
would be "dangerous" to allow the gold reserve in the treasury to 
fall below $100,000,000. But immediately after Mr. Cleveland's 
advent to power in March, 1893, it dropped below that figure. It 
kept getting lower and lower until about the 1st of February, 
1894, when it was down to about $65,000,000. Then $50,000,000 
in bonds were issued for about $58,000,000 in gold. This gold was 
rapidly drawn out again, and in November, 1894, another issue 
of $50,000,000 was made, and again about $58,000,000 in gold was 
realized. The run upon the treasury continued, and in a little more 
than two months the reserve was down to $41,000,000. Then came 
the never-to-be-forgotten "syndicate deal." Mr. Cleveland entered 
into a secret contract with Morgan, Rothschilds and others, by 
which they were to take $62,000,000 in bonds at about 104^ in 
gold. At this time the bonds were worth 117 in the market, and 
a little later they were up to 120. The syndicate, therefore, got 
the bonds for about $10,000,000 less than their average value in 
the market. 



152 THE SILVER SIDE— Campaign Text-Book. 

Finally came the famous popular (?) loan. Congress refused to 
pass a bond bill. The reserve was getting low again, and the air 
was full of whisperings of another "syndicate deal." An outburst 
of popular indignation followed and a call for popular subscrip- 
tions was made. 

Mr. Cleveland rushed into print to say that there had been 
no second agreement with the Morgan combine, while Morgan 
published a letter showing that he had been invited to consult with 
Cleveland and Carlisle, and that some sort of an arrangement was 
certainly contemplated, as a result of which he had formed a 
second syndicate. 

In the end the popular loan was a success (?). The gold was 
obtained. Thus far by these bond issues $262,000,000 has been 
added to our interest-bearing debt. The first $100,000,000 run 
ten years at 5 per cent. The remaining $162,000,000 run thirty 
years with one year off, and the rate is 4 per cent. The aggregate 
interest on the whole $262,000,000 will be about $238,000,000, mak- 
ing a grand total that the people will have to pay of just about 
$500,000,000. And the "endless chain" is still at work. Green- 
backs and Sherman notes are presented at the treasury and gold 
demanded. The notes are paid out again and again presented 
for redemption. 

Purpose of the Bond Issues. 

The "Sherman Law" contained a clause declaring it to be the 
""established policy of the United States to maintain the two metals 
on a parity with each other upon the present legal ratio, or such 
ratio as may be provided by law." 

In the act by which the purchase clause of the statute was re- 
pealed, it was declared to be — 

The policy of the United States to continue the use of both gold and 
silver as standard money, and to coin both gold and silver into money of 
equal intrinsic and exchangeable value, such equality to be secured through 
international agreement, or by such safeguards of legislation as will insure 
the maintenance of the parity in value of the coins of the two metals, and 
the equal power of every dollar in the market and in the payment of debts. 
And it is hereby further declared that the efforts of the government should 
steadily be directed to the establishment of such a safe system of bimetal- 
lism as will maintain at all times the equal powei of every dollar coined or 
issued by the United States in the markets, and in the payment of debts." 

The purchase clause of the Sherman law had been repealed, 
but the secretary still had authority to coin the silver bullion al- 
ready in the treasury into dollars for the redemption of "Sherman 
notes." 



SILVER DEMONETIZATION— HISTORICAL COMPILATION. 153 

It is declared to be the policy of the United States by inter- 
national agreement, ot by legislation, to establish a " safe system of 
bimetallism!' 

The question then naturally arises : What has been done toward 
carrying out that declaration? 

During the 53d congress, a resolution passed both houses for 
a commission of nine to take part in any international conference 
that might be called, three to be appointed by the senate, three 
by the house, and three by the president. The senate and house 
at once named their members. The president has not named his 
three yet, although about two years have passed. Neither has he 
ever given the slightest intimation that he desires such a confer- 
ence to be held. 

When the author wrote this sentence, it was correct, but quite 
recently President McKinley, realizing that something must be done 
toward carrying out the action of the St. Louis convention and 
the pre-election promises of the party, and to hold Republicans who 
are really in favor of silver, has appointed a commission of three,. 
Walcott, Stevenson and Paine. These gentlemen have sailed for 
Europe, and at this writing are enjoying the hospitalities of the 
Hotel Vendome, Paris, France, "waiting for something to turn up." 

It is well understood by all the best informed money men of 
Europe that there is hardly a possibility, certainly not a probability, 
of their success, even of getting a monetary conference agreed 
upon. It is doubtful if one in ten of the leading Republicans of 
this country really believe it is possible to obtain international 
bimetallism; but the action of the St. Louis convention, and the 
promises there made, place the party in a position demanding a 
show favoring it. The French premier is quoted as saying that 
there is not the remotest likelihood that France will take the iniative 
in calling a monetary conference until Great Britain agrees to take 
a part therein if it is called. Great Britain consults her own in- 
terests only, and will maintain her present position of antagonism 
to silver, and for the gold standard in accord with the wishes of 
the money lords of Europe. The United States can play it alone 
if she will, and it will come to that ere long. 

The same congress passed a bill for the coinage of the seignior- 
age — that is, the government profit on the silver bullion that had 
been purchased. This silver was lying idle and useless in the 
treasury. The revenue was beginning to fall off, and there was 
reason to believe that the government might need the money to 
meet expenses. 

In no possible aspect of the question from an economical or 
"bimetallic" standpoint could the coinage of that silver have done 



154 THE SILVER SIDE— Campaign Text-Book. 

any harm. The government being already the owner of the sil- 
ver, it was simply common sense to use it, and in the form of 
bullion nothing could be done with it. 

Mr. Cleveland vetoed the bill. Why? 

But one reason can be found. The bill leaned toward the restora- 
tion of silver to its place as "standard" money. The more silver we 
coined, the harder it would be to make it a complete outcast, and 
the greater would be the difficulty of landing the country absolutely 
upon the gold standard. 

If any further proof were needed that the administration is not 
in favor of bimetallism in any form, we have it in its positive re- 
fusal to use silver as redemption money, and in the strenuous ef- 
forts which it has made to induce congress to retire the green- 
backs, in order that the gold reserve might be the more easily main- 
tained. 

In pursuance of the declared policy of establishing a safe sys- 
tem of bimetallism, by international agreement or legislation, we 
have had no attempt by the administration of Grover Cleveland to 
secure such an agreement, although the senate and house both 
acted; no suggestion of any legislation on bimetallic lines, but, 
on the contrary, a veto of the bill to coin silver already in the 
treasury. 

In fact, the only step toward "safe bimetallism" has been an 
addition of about $500,000,000 to the debt of the people, coupled 
with a proposition to destroy national paper currency to about the 
same amount, and the placing of our currency system absolutely in 
the hands of the banks. 

It is entirely within bounds to say that the fall of prices and 
destruction of property values, consequent upon the establishment 
of the gold standard in 1873, have cost the United States forty thou- 
sand million dollars. That is, at the prices of 1873, the United States 
would be richer today by that amount. Still this destruction of 
values is deemed so good a thing that, in order to continue the 
system under which it has occurred, the people must be plunged 
into debt at the rate of $250,000,000 a year. 

The bond issues are, in brief, a part of the general policy of de- 
stroying silver, retiring the national currency, and making gold the. 
sole standard of values. This, now, as demonstrated by the union 
of gold standard Republicans and Democrats, in the election of 
1896, is as much the policy of the two old parties, as it was of 
Cleveland. Republicans bitterly condemned him at the time, but the 
money power of the St. Louis convention brought the old lead- 
ers of both parties to his feet, and by his presidential official patron- 
age, the people were conquered. 



SILVER DEMONETIZATION— HISTORICAL COMPILATION. 155 

Yes, a most notorious villain; 

To see the suffering of my fellow creatures, 

And own myself a man: to see our senators 

Cheat the deluded people with a show 

Of liberty, which yet they ne'er must taste of. 

They say, by them our hands are free from fetters; 

Yet whom they please they lay in basest bonds; 

Bring whom they please to infamy and sorrow; 

Drive us like wrecks down the rough tide of power, 

Whilst no hold's left to save us from destruction: 

All that bear this are villains, and I one, 

Not to rouse up at the great call of nature, 

And check the growth of these domestic spoilers, 

That make us slaves, and tell us 'tis our charter. 






CHAPTER XVI. 

"THE HARD TIMES."— THE CAUSE AND THE REMEDY. 



BY HON. FRANK W. EVANS. 

For some time past people have been complaining of increas- 
ingly hard times. It is universally admitted that the farmers are the 
wealth producing portion of the people, and that prosperity in all 
classes of ordinary business depends largely on the success of the 
farmers. It was formerly thought that good crops would bring 
"good times," and that a failure of crops would bring a "tightening 
up of the times." But this rule which in the past was regarded as 
invariable does not hold good now. The barns and storehouses of 
the nation are filled to overflowing with grain and all kinds of food 
the farmer produces. Cattle and sheep and stock of all kinds roam 
in pastures or are kept in sheds and stalls. There is plenty pro- 
duced by the farmer to supply all the families of our land and to 
spare. Yet, in the midst of all this abundance, thousands of families 
are unable to secure the necessities of life and have to depend on 
charity. It is estimated that three millions of workmen are out of 
employment, and are, in consequence, unable to support those who 
are dependent on them for a living. Many of them have in the 
better days of the past been able to lay up something for the future, 
but are now drawing upon their resources, which if conditions re- 
main as they are will soon be exhausted. Many who have nothing 
but their homes, which they have secured by honest toil, and some 
of which are very humble, will soon see them sold for the taxes 
they are unable to pay, because of the want of employment. Thou- 
sands of skilled laborers are willing and anxious to exchange their 
labor for the food their families need, but find no demand for their 
services. Farmers would be glad to exchange their products for 
the money these men might earn that they might successfully carry 
on their business. But they can scarcely get enough for what they 
have to sell to pay for its production. Thousands of farmers, who 
have had to go in debt for their land and the necessary improve- 
ments, do not realize enough from their labor to pay their taxes 
and the interest on their mortgages. With these lamentable facts 
before us the people are asking "what is the cause, and what is the 
remedy for these hard times?" To these questions different answers 

156 



"THE HARD TIMES"— THE CAUSE AND THE REMEDY. 157 

are given by different classes of advocates, Republicans, "Gold 
Democrats," and a class composed of "Silver Republicans, ,, Demo- 
crats and Populists. 

The Tariff Theory. 

The Republicans who favor a high tariff claim that public confi- 
dence was largely destroyed by the substitution of the Wilson tariff 
bill for the McKinley bill. They say that, influenced by this loss of 
confidence, capitalists refused to invest their money or loan it for 
business enterprises, thereby restricting the circulation and produc- 
ing a stagnation in business. They claim that if a tariff similar to 
the McKinley bill is passed confidence will be restored, factories 
and mills will be opened up, and thousands of men now idle will be 
employed and become increased consumers of farmers' products, 
thereby increasing the market for and prices of such products, that 
business will become active and prosperity be again restored. If 
it can be shown that a protective tariff will produce these results it 
will be the duty of every lover of his country to give it a cordial 
support. But a careful and candid investigation of the question and 
the facts of experience will not support this theory. 

Any theory that will allow the expenditures of a nation to 
exceed its receipts cannot be depended on for the restoration of good 
times. The records of the department show that the excess of re- 
ceipts over the expenditures of the government continued to decline 
from the time of the passage of the McKinley bill until in 1894 the 
expenditures exceeded the receipts by $69,803,260, although that 
year the expenses were §16,752,676 less than the year before. The 
expenditures under the Wilson bill exceeded the receipts in 1896 
only $26,000,000, this was $43,803,260 less than under the McKinley 
bill in 1894. The revenue collected in 1896 under the Wilson bill 
was $28,467,206 more than under the McKinley bill in 1894. That 
which was a failure in providing for the expenses of the nation can- 
not surely recommend itself as a means of restoring prosperity. 
The McKinley bill was in force in 1893; if it would be such a factor 
in doing away with our financial depression why did it not prevent 
the panic that spread over the county that year involving 15,242 
failures, with $346,779,889 liabilities? 

The people of all gold standard countries are suffering with a 
like financial depression to ours. A high or low tariff with us cer- 
tainly cannot be the cause of their hard times. We now have more 
manufactured goods than we have a market for. Dealers in many 
instances to get rid of their goods and realize the money, for them 
are offering them at or below cost. This is not because the people 
do not need the goods and are not willing to buy, but because they 
have not the money to pay for them. It would be difficult to con- 



158 > THE SILVER SIDE— Campaign Text-Book. 

ceive how good times could be restored by throwing an additional 
amount of goods on an already overstocked market. 

The Theory that the Agitation for Silver is the Cause of Hard Times. 

Republicans and Gold Democrats have claimed that one of the 
causes of the hard times is the agitation for silver, exciting distrust 
in the minds of the capitalists and causing them to withhold their 
money from circulation. But this assumption will not stand the 
test of fair criticism. When prices are falling confidence declines 
and money is hoarded. Men who wish to buy to sell again know 
that if they buy when prices are falling they can sell again only at 
a loss. When prices are rising confidence is restored and capital 
seeks investment, for men know that if they sell again on rising 
prices they will reap the profit that comes from a rise in prices. 
"That which grows dearer it is profitable to buy or hoard," as the 
more the price goes up the more valuable it will become. But it is 
not profitable to buy or hoard that which grows cheaper, for the 
more prices go down the less valuable it will become. When prices 
go up and money goes down men invest their money expecting to 
get the benefit of the rise in prices. But when prices are going 
down and money is going up they hoard their money, expecting 
when they do buy to get the benefit of the fall in prices. 

At the commencement of 1873 there was a condition of public 
confidence. Business was on a sound cash basis. "Employment 
was abundant, wages were liberal." Farmers were getting fairly good 
prices for their products. They received $1.15 a bushel for their 
wheat, 40 cents for their corn, 37 cents for their oats, and for other 
products in proportion. There was no agitation for silver, for 
neither silver nor gold was then in circulation. February 12th of 
that year silver was demonetized and the mints closed to free coin- 
age. This was followed the same year by a panic that spread over 
the whole country involving 5,183 failures with $228,499,900. From 
1874 to 1878 (when the Bland-Allison bill was passed) there were 
47,195 failures, with $1,200,945,900 liabilities. This was 38 more 
failures in these six years than in the sixteen years preceding, and 
$68,543,054 more of liabilities than in the previous years. Average 
prices went up from 95, as the index number in 1853, to in in 
1873, and falling 30 from 1873 to 1878. In six years after the clos- 
ing of the mints to free coinage prices lost more than they had 
gained in the 20 previous years. 

Prices and Confidence Under the Gold Standard. 

The fall in prices under the gold standard caused a decline in 
confidence and seriously affected the producers and debtors of the 
country. The attention of the people was called to the fact that 



"THE HARD TIMES"— THE CAUSE AND THE REMEDY. 159 

the silver dollar was demonetized and its free coinage stopped, and 
an agitation began for its restoration. As a result, the Bland-Alli- 
son bill was passed February 28, 1878. But it was defective in that 
it allowed the silver dollar to be discriminated against in contracts, 
limited the amount of money invested in silver bullion at any one 
. time to $5,000,000, and left it optional with the secretary of the 
treasury to coin the minimum amount of $2,000,000 or the maximum 
of $4,000,000. As the administration was unfriendly to silver he lim- 
ited the coinage to the minimum. Yet as the amount of silver was 
increased confidence partially increased and times to some extent 
improved. But the measure was not thorough enough, many draw- 
backs were thrown in the way, and the purchase and coinage of sil- 
ver being limited, a surplus accumulated on the market and the 
price of silver went down and the prices of products with it. Con- 
fidence again lapsed under the gold standard, and there was a gen- 
eral complaint of dull times. July 14, 1890, a compromise measure 
was passed, providing for the purchase of 4,500,000 ounces of gold 
each month, and for the coinage of $2,000,000 each month until the 
1st of July, 1891. The secretary was authorized to redeem the 
treasury notes issued for this silver in gold or silver at his discre- 
tion. The secretary stopped the coinage of silver as soon as„ the 
terms of the law would allow, and redeemed the notes, at least some 
of them, in gold instead of silver. This neutralized to a considerable 
extent the beneficial effects expected from the law. Yet silver went 
up within a month after the passage of the act to $1.21 in New York 
and to $1.19 even in London. Confidence was partially restored, 
the money stringency was relieved, and business to some extent 
revived. Cleveland took his seat as president in 1893. 

Soon after his inauguration there were many press comments 
on the frequent conferences held by Cleveland and Carlisle with 
leading bankers of New York. In the latter part of April the banks 
for some reason that has never been explained suddenly called in 
their loans, and refused their usual business credits, thereby causing 
a panic to spread through the whole country, causing that year 
15,242 failures, with liabilities of $346,779,889. There was no visi- 
ble or natural cause for this panic. Cleveland in his call said: 

Our unfortunate financial plight is not the result of untoward events, 
nor of conditions related to our natural resources, nor is it traceable to 
any of the afflictions which frequently check national growth and pros- 
perity. With plenteous crops, with abundant promise of remunerative pro- 
duction, and manufacture, with unusual invitations for safe investment 
and with satisfactory assurance of business enterprise, financial distrust 
and fear have sprung up on every side. 

All the circumstances indicate that this panic was artificially 
brought about for a specific purpose, and that purpose was the 



160 THE SILVER SIDE- Campaign Text-Book. 

repeal of the Sherman law, as it is called, for they immediately set 
up a howl for its repeal, assuring us that good times would at once 
follow. 

Repeal of the Sherman Law Failed to Bring Prosperity. 

The following facts taken from a valuable little pamphlet enti- 
tled "Objections to Free Coinage Answered," consisting of extracts 
from the Dubuque Daily Telegraph, will show that a silver standard 
does not cause the confidence of capitalists to decline. Capital 
has sought investment in different enterprises in Japan. "A manu- 
facturing establishment in Connecticut recently dismantled its works 
and shipped its machinery to Japan." Europeans and Americans 
are starting factories and banks in Mexico. 'The Bank of London 
has lately doubled its capital in the city of Mexico, and the Bank of 
Berlin has applied for a charter in that city." The fact that capital 
is going to Mexico and building factories and railroads and estab- 
lishing banks, causing that country to prosper as never before, and 
more than any state in our Union, is an ample refutation that free 
coinage will impair confidence in capital and prevent investment in 
business enterprises. Confidence depends on stable or advancing 
prices, and experience proves that prices must be unstable and fall 
where the gold standard is maintained, for in all gold standard 
countries prices are in that condition. 

The Over-Production Theory. 
Both Republicans and Gold Democrats attribute the ruinously 
low prices of farm and other products, and the consequent hard 
times, to overproduction. They say India, Russia, and the Argen- 
tine Republic have entered into competition with us in raising and 
marketing wheat, and as the price of labor is so much cheaper in 
those countries, they can sell at lower prices than we can. In a lit- 
tle book entitled "Why Times Are Hard, No. 8," is a table an page 
95, taken from the reports of the secretary of agriculture and other 
official sources, showing that less wheat was produced in the world 
in 1893 than in years preceding up to 1879, and that the price was 
lower then than in any of these previous years. On page 96 is a 
table showing that the largest product of wheat in India was in 
1886-7, at which time prices were much higher than 1893. It is 
claimed that farmers' products have overcrowded the market more 
than have the products of factories and mills. The reason that 
farmers and manufacturers cannot sell their products at remunera- 
tive prices is not because there is no demand for them, but because 
the people have not the money to satisfy the demand; they would 
buy if they could. There can be no overproduction when thou- 
sands of people are suffering for the want of the things produced. 
"It is not from choice that poor men and women patronize soup 



"THE HARD TIMES"— THE CAUSE AND THE REMEDY. 161 

houses" and other places where meals are provided out of charity. 
Much has been said of improved methods making products cheaper. 
M. Laveleye, professor of political economy in the University of 
Liege, Belgium, one of the best informed writers on economic sci- 
ence in Europe, says : 

It is very easy to prove beyond a doubt that the marked and universal 
fall in prices is not due solely to an increase of production and to improved 
methods of transport. Between 1850 and 1870 the railroad development and 
the application of steam made greater progress than during the last ten 
years, new inventions of all kinds in the industrial world rapidly succeeded 
each other, and yet during that time production immensely increased and 
prices rose. Between 1870 and 1885 economic progress was also considera- 
ble, but less than during the previous period, and nevertheless prices fell to a 
lower level than in 1850. How then can it be denied that monetary con- 
traction was the cause of this? According to Mr. Sauerbeck, production in 
England between 1850 and 1870 increased 2^4 per cent, per annum, and 
between 1870 and 1885 l I- 6 only, while prices rose during the first men- 
tioned period from 18 to 20 per cent, and fell during the second period 30 
per cent. There has been no increased production outrunning the increase 
of population since 1875 when prices were rising. There has been no over- 
production of land, yet the price of land has materially fallen. As to the 
cost of transportation it has decreased because the prices of products have 
become so low that at the old rates dealers could not afford to ship them. 
Between 1873 and 1887 freight on wheat from Chicago to Liverpool was re- 
duced about 26 cents, yet the price of wheat in that city fell more than 70 
cents, showing that it was more than cheap transportation that lowered 
the price. 

Money Has no Intrinsic Value. 

The theory of overproduction is upon the very face of it absurd. 
Money is a medium of exchange for what people want. It has no 
intrinsic value. It is valuable only for what it can be exchanged 
for. The words price, cheap and dear when used in business trans- 
actions are only relative terms. When wheat is selling for one 
dollar a bushel, one dollar is the price in money of a bushel of 
wheat, and a bushel of wheat is the price in wheat of a dollar in 
money. When it takes two dollars to buy a bushel of wheat, we 
say the price of wheat is gone up, and wheat is dear. But it is 
equally true that the price of money in relation to wheat has gone 
down, and money in relation to wheat is cheap. When it takes two 
bushels of wheat to buy a dollar, we say that the price of wheat has 
gone down, and that wheat is cheap. But it is equally true that 
money in relation to wheat has gone up, and is dear, and 
so with all things for which money is exchanged. Money 
and whatever is exchanged for it may be compared to two 



162 THE SILVER SIDE— Campaign Text-Book. 

buckets in an old fashioned well, as one goes up the other goes 
down. When the price of what we exchange money for goes 
down, the price of money goes up. If increased production of 
commodities lowers the price of commodities, increased production 
of money should lower the price of money. The difficulties en- 
countered by business men in making collections, and that thou- 
sands experience in getting sufficient money to purchase the necessi- 
ties of life, indicate that money is scarce. If the theory of over- 
production is true (which we deny), we have two causes for the 
fall of prices. First, overproduction of what we exchange for money. 
Second, underproduction of the money we exchange for products. 
The only way, then, to get rid of the hard times produced by the 
low prices of what money is exchanged for is to remove one of 
these causes. First, lessen the producing of these commodities we 
exchange for money. Second, or increase the producing of money. 
If we lessen the producing of commodities, we throw men out of em- 
ployment who are now engaged in the work of producing, we will 
cause farms to grow up in weeds, additional factories and mills to 
be closed, add to the number of men unable to purchase at the 
stores and groceries, and compel more merchants and grocerymen 
to go out of business. Business will become more and more de- 
pressed, poverty and wretchedness will be immensely increased. 
It follows, then, that the hard times cannot be done away with, and 
prices restored to their normal state by lessening the production. 
The only way to do this will be, then, to remove the other cause 
by an increase in the production of money. "Oh," says the gold 
men, "that would be inflation; we are opposed to inflation." We 
now have, according to their theory, an inflation of products. 
Physicians use one kind of poison to neutralize another kind of 
poison taken into the human system. Why not, on the same 
principle, use one kind of inflation to neutralize another kind of 
inflation? Abundance of products with abundance of money to 
buy them would make it easier for those who are destitute to 
obtain the comforts of life than abundance of products with little 
or no money to exchange for them. An increase of the amount of 
money to a sufficiency to successfully transact the business of the 
country would not be inflation, in the common acceptation of the 
term. But facts show that we have not an overproduction of the 
necessities of life, hence the theory of overproduction is an un- 
proved assumption. 

Patriotic (?) Bankers J860-65. 

All the facts connected with our financial system indicate that 
the real cause of our hard times is the contraction of our currency 
until there is not enough real money in the country to supply the 



"THE HARD TIMES"— THE CAUSE AND THE REMEDY. 163 

demand. We propose to examine as briefly as possible the principal 
facts in our financial history. December, i860, congress, to re- 
plenish an exhausted treasury, authorized the secretary to issue 
treasury notes to the amount of $10,000,000, to be disposed of at the 
rate of interest offered by the lowest bidder. The New York 
banks received $4,500,000 of these notes, and took advantage of the 
necessities of the government by charging 12 per cent. February 
8, 1861, congress authorized a loan of $25,000,000 bearing 6 per 
cent, interest. The New York banks took $18,415,000 at a shave 
of $2,019,776, or 17 per cent., besides the regular rate of interest, 
which was 6 per cent. July 17, 1861, after Lincoln became presi- 
dent, congress authorized the issue of $50,000,000 of treasury notes 
not bearing interest on a less denomination than $50, and paid them 
out to the employes and creditors of the government. The banks 
protested against their issue in the payment of taxes and public 
debts, and refused to receive them except as special deposits. Geo. 
S. Coe, president of the American Exchange Bank of New York, 
gave in the Bankers' Magazine, January, 1876, an account of the 
negotiations between Secretary Chase and the associated banks of 
New York, Philadelphia, and Boston, for a loan of $150,000,000, 
to be furnished the government in three installments, sixty days 
apart. According to his statements they had on hand as deposits, 
$125,335,838; they had in circulation (their own notes, of course), 
$16,964,749, making liabilities of $142,581,956. Their assets in 
coin were $63,156,039. This was $79,415,417 less than their lia- 
bilities. He says that August 17th, before the first payment, the 
New York banks had $49,733,990; they paid their proportion, over 
$80,000,000, to the government, and before the time for the third 
payment they had $42,318,670, a reduction of only $7,415,380. The 
last payment was not made in specie, but in demand notes, the very* 
notes they at first refused to receive except as special deposits. 
Thaddeus Stevens, in a speech in congress, February 5, 1862, said: 

Before the banks had paid much of the last loan they broke down under 
it, and suspended specie payment. They have continued to pay that loan, 
not in coin, but demand notes of the government. — Cong. Globe, part 1, 
1861-2, p. 679. 

He said in a speech February 20, 1862: 

The banks took $50,000,000 of 6 per cent, bonds and shaved the govern- 
ment $5,500,000 on them. They paid for the $50,000,000 in demand notes, 
not in specie. — Cong. Globe, part 1, 1861-2, p. 200. 

Conduct of the Money Power, "When the Government Was Struggling for Life. 

Mr. Coe admits that the banks suspended specie payment because 
the secretary persisted in paying the notes out directly to the peo- 



164 THE SILVER SIDE— Campaign Text-Book. 

pie. They probably paid in the notes received for the first two 
payments. If they had disposed of those notes and paid the gold 
for new notes, instead of paying them back into the treasury, it 
would have kept more money in circulation, but they preferred to 
keep the government money contracted as much as possible. These 
notes were as good as gold, because they were receivable for all 
public dues. Sherman, in a speech in the senate July 4, 1862, ad- 
mitted this, and said: "They are now far above par." John J. 
Knox, in "United States Notes," p. 89, also admits that they were 
as good as gold. He says: "They were quoted at times at about 
the same premium as gold." January 1, 1862, a bill authorizing 
the issue of $50,000,000 not bearing interest, and which should be 
legal tender for all purposes, was introduced into the lower house, 
and the committee on ways and means, after raising the amount 
from fifty to one hundred millions, recommended that the bill be 
passed. Thaddeus Stevens, in a speech in the house, February 20, 
1862, said that boards of trade, merchants, manufacturers, traders, 
mechanics and laborers from all parts of the country, sent up 
expressions of approval, and a desire to have it passed. He also said 
that bullion brokers and associated bankers sent their cashiers and 
agents to prevent its passage in the senate. Influenced by the 
efforts brought to bear upon it, the senate sent back the bill, as 
Stevens said: "So disfigured and deformed, that its very father 
would not know it." The act, as amended by the senate, made the 
notes provide for a legal tender for everything "except duties on 
imports," and "interest upon bonds and notes which shall be paid 
in coin." This act discriminated against the notes in favor of coin, 
which the act creating the original greenbacks did not do. This 
act provided that $50,000,000 of the demand notes, or original green- 
backs, which were as good as gold, should be taken up, and the 
notes, with the exception clause substituted for them as rapidly 
as possible. This act of the senate, influenced by the bankers and 
bullion brokers, as all can see, tended to contract the circulation 
of full legal tender money and substitute for it a currency which 
the very terms of the act creating it depreciated. The soldiers were 
paid, not in the original greenbacks as good as gold, but in this 
depreciated currency, when gold was at a premium of $1.81, and 
one dollar in gold was worth $2.85 of these notes. The soldiers who 
endured the privations and hardships and suffering on the fatiguing 
march, on the bloody field of battle, and in gloomy prisons, re- 
ceived in depreciated currency $13 a month, worth about $4.56 in 
coin, while the bankers, living in luxury at home and out of danger, 
and speculating on the necessities of the government, were realiz- 
ing immense profits. A resolution offered by General Weaver in 
congress to make good to the soldier what he had lost in depreciated 



"THE HARD TIMES"— THE CAUSE AND THE REMEDY. 165 

currency was by the men who had been laboring for the con- 
traction of the circulation of full legal tender currency, and after- 
wards succeeded in establishing the gold standard, "laughed to 
scorn." 

The Country's Financial Condition in 1865 : Contraction Recommended. 

Hugh McCulloch, formerly a bank president, was made secretary 
of the treasury, March 7, 1865. The country was then in a pros- 
perous financial condition, as Secretary McCulloch admitted in 
his report in 1865. He said: "So far as individual indebtedness 
is regarded, it may be remarked that the people of the United States 
are much less in debt than in previous years." He seemed to think 
the people had too much money, and that it was his business to see 
that they should have less. So, in his report of 1865, he said: "There 
is an immense volume of paper money in circulation, and it must 
be contracted." He recommended that "the secretary be authorized 
at his discretion to sell bonds of the United States, bearing interest 
at a rate not exceeding 6 per cent, for the purpose of retiring not 
only the compound interest notes, but the United States notes." 
He says: "The first thing to be done is to establish the policy of 
contraction." December 18, 1865, congress passed a resolution 
endorsing the views of the secretary, and April 12, 1866, passed a 
law authorizing the secretary to sell bonds and with the proceeds 
retire treasury notes and other obligations. — 14. Statutes at Large, 
j?t. On pages 28-9, "Messages and Documents," Secretary McCul- 
loch says: "Thus the condition of the country and the treasury deter- 
mined the policy of the secretary, which has been to convert the 
interest bearing bonds, notes, etc., to gold bearing bo?ids, and to con- 
tract the paper circulation by the redemption of United States 
notes." There was no money in circulation but paper money, and 
this he persistently contracted by converting it into gold bearing 
bonds. From September 1, 1865, to September 1, 1867, he says 
the reduction in the circulation was $797,725,317.39. The official 
records (Financial Report of 1869^ show that there had been 
retired, counted and destroyed of the people's money, $1,778,987,091. 
The effect of McCulloch's policy of contraction will appear from 
the following in Bolles' Financial History, p. 278: "And when 
congress convened in December (1867), a considerable stringency 
existed in the money market. The price of commodities had de- 
clined, and opposition to further contraction was loud and general." 
An "act to suspend the further reduction of the currency," be- 
came a law February 4, 1868. 

Silver Free Coinage. 
In 1873, while we had not resumed specie payment, we had 
a law which had never been repealed, providing for the free coinage 



166 THE SILVER SIDE— Campaign Text-Book. 

of gold and silver. The legal value of a dollar in gold and a 
dollar in silver was the same, but the commercial value of a sil- 
ver dollar was about three or four cents more than the gold dollar. 
The bankers, bond holders and speculators in gold determined to 
keep up the policy of contraction by demonetizing the silver dollar 
and closing the mints to the free coinage of silver. Through their 
influence a bill was passed in congress, February 12, 1873, specify- 
ing the gold and silver coins authorized to be used, and omitting 
the standard dollar and forbidding the coinage of any money not 
provided for in the bill. The bill was surreptitiously, hence fraudu- 
lently, passed, for Judge Kelley, chairman of the committee on 
coinage, said: "I was ignorant of the fact that it would demonetize 
the silver dollar, or of its dropping the silver dollar from our sys- 
tem of coins." He would certainly have known if the bill con- 
tained anything demonetizing silver, otherwise he would have been 
unfit to be chairman of so important a committee. Blaine, Conk- 
lin, Thurman, and a host of congressmen say they were entirely 
ignorant of the demonetization of silver. The ever wide-awake, 
watchful reporters never mentioned it in any of the papers pub- 
lished in that year. Allison said: "The bill was doctored, if I 
may use the term. "It was changed after the discussion, and the 
dollar of 420 grains was substituted for it." Holman, of Indiana, 
stigmatized it as " a colossal swindle." He said: "I assert that 
the measure never had the sanction of the house, and it does 
not possess the moral force of law." Nevertheless, it has been ac- 
cepted as law, and no one can be found except a gold standard man 
who will say that it was legitimately passed, or give any ex- 
pression in its favor. In 1878 silver was demonetized and made a 
legal tender, " except where- otherwise expressly stipulated in the 
contract ' y 

Carlisle, in Circular 123, page 54, puts our per capita circulation 
at $21.10. On page 54 he represents the amount of money in the 
country to be per capita: Gold, $8.41; silver, $8.47; paper, $5.37; 
total, $22.55. As gold is all the money we have against which no 
stipulation can be made in the contract, it follows that our per 
capita amount of full legal tender is only $8.41. In 1867 and 
1872 our money was all paper, but it was full legal tender, as no 
stipulation against it could be made in any contract. In 1867 our 
per capita circulation of full legal tender was $18.28, in 1872 it was 
$18.19. We had then in 1872, $9.28 more per capita of full legal 
tender money than we had in 1896. Money is the standard of 
measure of value. If we say a horse is worth $100, we measure 
his value in dollars or money. Money, then, is the standard by 
which we measure the value of the horse. We have adopted the 
gold standard of measurement; the law of 1873 says that the gold 



"THE HARD TIMES"— THE CAUSE AND THE REMEDY. 167 

dollar shall be the unit of value. The gold dollar is then the stand- 
ard of value under all circumstances and must be accepted as the 
value promised in any contract whatever the thing stipulated for 
in the contract may be. The silver dollar is not the measure of 
value ; while in the form of a dollar it only represents the value of a 
gold dollar. Products of all kinds measured in silver are probably 
as high now as they ever were, but measured in gold they are 
not. As we have, according to -Carlisle, only $8.41 in gold, we 
have only $8.41 in real money by which the value of all property 
is measured. Supply and demand must always regulate prices, 
money has its price as well as other things. When one dollar is 
the price of a bushel of wheat, a bushel of wheat is the price of a 
dollar. In this case, we exchange a bushel of wheat for a dollar, 
and a dollar for a bushel of wheat. When that which we exchange 
for money is contracted below the demand, the price of it in money 
must rise, and the price of the money exchanged for it must fall. 
When the money we exchange for other things is contracted be- 
low the demand for it, the price of it must rise and the price of 
the things exchanged for it must fall. That is the condition of 
affairs in this and all other gold standard countries now. The 
circulation of money has gone far down below the demand, and the 
price has gone up in proportion, and in the same proportion what 
we exchange for it has gone down. Money is hard to get, and the 
products of farmers and others have gone down so low that little 
or no profit is derived from them, and this is what has brought about 
the hard times. The cause of the hard times, then, is not, first, 
the substitution of the Wilson for the McKinley bill. Second, nor 
the agitation for silver. Third, nor over-production. The real 
cause is the contraction of the currency by making gold the only 
real money or measure of value. The remedy then is to put silver 
on an equality with gold, by making it a full legal tender against 
which no stipulation can be made in any contract, and giving to it 
the same freedom of coinage that is given to gold. 



CHAPTER XVII. 

WHAT IS MONEY? 

BY LEONARD BROWN. 

Whatever is declared by law an equivalent for indebtedness 
both to the state and to individuals is the money of civilization. 
Its redemption is its acceptance by the state and by individuals in 
obedience to the mandate of law; as the redemption of a car ticket 
is its acceptance on the part of the corporation by the conductor 
for what it is legally, not intrinsically, worth. Law is the essence of 
both. There is between "money" and "medium of exchange" an 
important distinction. Money is only a debt and tax paying token, 
check or ticket, while "medium of exchange" is whatever by com- 
mon consent passes current. But a legal tender bill or coin forms 
an unexceptional medium of exchange; and a good government 
will see to it that no necessity exist for any other currency but 
legal tender. The obligation of the citizen to the state is as binding 
as that of the state to the citizen. We offer our lives on the altar 
of our country. Is the money we pay the state too poor for our 
acceptance from the state? Then let the state make it full money 
in law. It will then be full money in fact. 

Not because either the commonwealth or individuals want 
metal, is coin accepted; but because the law declares it "legal ten- 
der," or "receivable." Otherwise it would not be legally accepted, 
and presumably not at all. No man can legally pay taxes or 
debts with uncoined gold or uncoined silver, because the legal 
value of the metals and their commercial value are not necessarily 
and always the same. But we can pay with legal tender paper, a 
money purely and distinctively, and void of every other quality, as 
all money should be. 

Uncoined Gold and Silver not Money* 

Gold and silver uncoined are not money, nor coined unless 
according to law by our own mints. Money is accepted for what it 
will legally do, not for the metal. By the decisions of the highest 
courts, as well as by the teachings of the greatest philosophers, 
from Aristotle to Benjamin Franklin, it has been settled that 
"money exists only in law." 

The political economy that demands a metal basis for money 
168 




his duty as a soldier serving „ £ i Un ' 01 : army and discharged 

Wisconsin.' rlHs the author of seveS f 2 ™' ™' chi e™, HHnois and 
matory; in all eleven volumes ea ' P ° ht,Cil1 ' S ° daI and refor - 



WHAT IS MONEY t 169 

is wrong. It would not be so bad if one people had one metal 
basis, another another, and no two the same. The one great and 
all important truth in reference to money is, that it ought always 
to stay at home. Not one dollar ought ever leave America. It 
ought to be a crime of equal heinousness in law to take a coined 
American dollar out of our country to a foreign land to be sold 
as bullion, as to counterfeit a dollar. Every dollar withdrawn in- 
creases the purchasing power of every dollar that remains — 
lessens the selling price of every commodity. 

Of course it is gratifying to the cupidity of speculators in money 
and bullion to have what is theirs become the equivalent for more 
and more of what belongs to others. But to the people who toil 
and produce the essentials of life and happiness of mankind it is 
a great wrong. They see the selling price of their products and 
labor and their ability to meet their debt obligations constantly 
lessening. The money class have always fattened by taking ad- 
vantage of the ignorance of the laboring class to overreach and 
defraud them. 

Monetary Conditions Should be Fixed by Law. 

If monetary conditions were fixed by law, as they ought to 
be, so that no artificial advantages could be created in their favor 
by bullion brokers and money speculators, their occupation would 
be gone. By means of artificial conditions they themselves de- 
signedly prepare in their own interest their immense power over 
the people is obtained. How heightened and intensified when 
government becomes their pliant tool. The following press dis- 
patch is an illustration in point: 

London, June 27. — In the House of Commons today Mr. Robert Lacy 
Everett asked the government whether now the value of the rupee 
having been artificially raised by the closing of the Indian mints to the free 
coinage of silver, compensation would be given to those persons in India 
who had entered into contracts to pay rupees without knowing that free 
coinage would be stopped and the value of the rupee raised. Mr. Glad- 
stone replied that all measures modifying state currency may affect pecuniary 
values and influence currency transactions, but he was not aware that it 
had ever been the usage to make alterations subject to compensation, and 
he could not see how such a usage could be beneficial." 

Increase of Money for the General "Welfare, 
The increase of money incident to the abandonment of the gold 
standard will operate only to establish justice, promote the general 
welfare and secure the blessings of liberty and prosperity to all; 
because the demand for labor and products of labor increases with 
the increase of money. The soldiers' pensions paid directly all 
over the Union in standard silver dollars would relieve the national 



170 THE SILVER SIDE— Campaign Text-Book. 

treasury of silver congestion and distribute widely the coin, greatly 
to the country's benefit. The more money abroad among the peo- 
ple the more general will be the distribution of the surplus product. 
The few barred the monopoly of the money will be barred the 
monopoly of the common product. 

How little knowledge the people have of their real monetary 
wants is evidenced by the fact that they have acquiesced in the 
appointment of a commission to settle the ''comparative ratio of 
legal value of silver to gold" the world over. All nations ought to 
have a different money; and that of one country ought not to be 
good in another. Money is a tool of internal trade only, and never 
of external. Foreign trade is essentially barter — product for prod- 
uct, and balances settled with gold and silver sold as products at 
their commercial price. "Money," that the constitution of the 
United States empowers congress to "coin," is not money outside 
of the boundary lines of our own great republic. The money of 
a country is only the tool of internal trade. To "keep it at home" 
is as essential as to keep the agricultural and mechanical tools at 
home. Money is a tool that one nation cannot supply another 
independent nation with unless declared by its laws "legal tender" 
— as, at one time, our laws did declare certain foreign coins. But 
no foreign coin is legal tender in the United States now. 

Not Desirable to Have the Money of the World the Same. 

If the money of all the world were the same and legal every- 
where — a metal money limited in supply, as gold coin must necessar- 
ily be — its distribution would not be equitable; but a constant flux 
from one country to another, back and forth, would occur, produced 
by sordid "speculators on 'change" — gamblers on the common 
prosperity. How uncertain would be the results of plowing and 
sowing. How changeable the prices of all products, as the money 
came and went to and from the shores in obedience to the demands 
of speculators! The evils we now suffer from shipments of gold 
abroad would be intensified by the world's having a common 
money or metal. Of course it would be better of two or many 
metals than of one alone, because more plentiful, and more diffi- 
cult for speculators to "corner," as is now done with gold. So 
vast is the wealth and power of the bullion brokers of the old 
world that they hold all the world's gold in the hollow of their 
hands. Alexander and Napoleon were pigmies in power compared 
with the executive of an international gold trust. All mankind 
under the yoke of this terrible despotism — a greater tyranny than 
history has any record of — the despotism of the money power! 

A demand from over the sea — not for our money itself (for 
there is never a foreign demand for our money), but only for the 



WHAT IS MONEY ? 171 

metal our money is made of, because its speculative price has 
reached a point in Europe above the legal value of the coin at home, 
is disastrous to us. Money, the value of which is fixed by law, 
ought not to be, at the same time, a commodity of speculation of 
uncertain and changeable value — commodity fluctuating, money 
fixed. Here in one are united two natures, distinct, different and 
antagonistic to each other — water and fire bottled up together — 
the one destructive to the other. Commodity, on which the 
stamp of legal value has been placed, selling for more in a foreign 
market than is its legal price at home, smothers the money quality 
as Genevra was smothered in the old chest. 

Our government bonds rising and falling in price in the foreign 
market mark the rise and fall of the value of gold. With "green- 
backs" our only money of debt payment foreign holders of our 
bonds, mortgage notes, etc., would not ship our money, but our 
products abroad. It might be admissible to have metal money 
if it could not be transformed into the money of any other country 
and withdrawn from circulation in our own. Instead of the 
precious metals the ancient Spartans received pieces of iron which 
had been heated red in the fire and afterwards quenched in vinegar 
in order to render them brittle and useless for every other purpose 
but that of serving as the current specie. (See Gillies' History of 
Greece, page 32.) 

Abundance of Money Always Brings Good Times. 

It is the highest requirement of real money to be always plenti- 
ful. It is from its scarcity that hard times always come. An abun- 
dance of money was never the cause of hard times. It always 
brings good times and no bankruptcies. Plenty of money helps 
the many; scarcity of money helps the few. Plenty of money 
brings plenty to all; scarcity of money brings poverty to all but a 
few, to whom it turns over the many bound and gagged, to be 
scourged by them with a whip of scorpions and robbed of their 
all, A plentifulness of money distributed by the government, its 
creator, at a cost for its use of not above 1 per cent, per annum, 
paid by the states to the general government, of 2 per cent, paid by 
the counties to the states, and of 3 per cent, paid by the people to 
the counties on loans secured — as in Pennsylvania in 1723 — only 
government savings banks receiving deposits — is what the age 
demands. 

I am astonished that any thinker should propose a per capita 
amount. Let all the money the people want and can make the 
government secure for, paying only a light yearly tax into the na- 
tional treasury for its use, be let out. If any one have any more 
at any time in his possession than he can profitably invest, he will 



172 THE SILVER SIDE— Campaign Text-Book. 

return it to the government, either as a deposit in the governmental 
savings bank or as payment on a loan. Then it will not be afloat. 
It will be in the coffers of Uncle Sam; and no more can be in cir- 
culation than the people think they need; and that much ought 
to be. 

Bankers Should Not be Allowed to Fix the Supply. 

We want no conclave of speculators to fix the amount. The 
people are king. We might as well submit to a congress of quack 
doctors to say how much each shall eat, leaving them to serve us 
like Sancho Panza, the governor of the island, was served. Let 
no limit be arbitrarily fixed for the money supply any more than 
for the food supply. Let it equal the demand; and let not the av- 
aricious usurers longer portion it out on mortgage loans. An 
abundance of money is the supreme want of civilization. It will 
stimulate industry and increase production, that none may want 
for bread. A governmental savings bank in every postoffice will 
always keep the amount down below the inflation mark, though 
the government pour out money like a cloud-burst pours out 
water. It will be a mighty river carrying all that the land does 
not need back to the ocean of supply whence it came. 

It is preposterous to talk of a "fixed and staple amount of 
money," as conditions now are. There is no certain amount of 
"money of final payment" in the United States today. It is acci- 
dent, anarchy, uncertainty, chance, nothing determined. There is 
and can be no fixed amount of specie. Positively we have no 
provision for any money of payment at all. All the gold may be 
withheld from coinage by the bullion brokers, or withdrawn by 
them and sent abroad after being coined, and so become bullion 
again. And the natural sources of gold supply are uncertain, and 
the world's consumption of that metal is great and increasing. 
Besides, the gold trust owns and controls all the gold mines. Posi- 
tive requirements of state and national laws compel the payment 
of debt (individual and public) in money; yet there exists no pro- 
vision of law or institution that, with certainty, any "money of pay- 
ment" shall be in existence when demanded- by the necessities of 
government and of a debt-burdened people. 

The Power of the European Gold Trust. 

It is within the prerogative of the gold trust, with headquarters 
in Europe, to place the United States treasury in the condition 
of a broken bank in a moment's time by depleting it of gold coin. 

We are by law made dependent on the bullion speculators of the 
old world for the material substance of the only money of final 
payment. The power to destroy all the industries and bankrupt 
every citizen of the United States in a second's time by the click 



WHAT.IS. MONEY? 173 

of the telegraph instrument is theirs. We have enthroned the 
bullion speculators of Europe king of America. The power they 
have over us is absolute; their power for good nil! Who can deny 
it? They say how much gold coin we may have or whether any 
at all. Let them speak the word, and every dollar of gold coin 
will be taken from us, as at the beginning of the civil war, every cent 
of specie, both gold and silver, was withdrawn. They will speak, 
and that loudly, too, when we cease to obey them and pay them 
tribute. 

If we must have specie basis money, silver evidently is better 
than gold. It will "stay at home," as matters now are. Gold, 
freed from legal value, may become the money of foreign com- 
merce, bringing what it will in the "markets of the world," like 
other metals, and "settling trade balances." Our duty is not to 
abandon silver, but to hold fast to it, and let there be no increase 
in the amount of silver metal in a dollar; for, as with all other tools, 
or instruments, the less the cost of the material of which it is made 
the better. 



CHAPTER XVIII. 

BIMETALLISM— MONOMETALLISM. 

BY A. J. WARNER, PRESIDENT AMERICAN BIMETALLIC UNION. 

M. Henri Cernuschi, with whom the term bimetallism originated, 
in an introductory note to his pamphlet entitled "Bimetallic Money," 
published in 1876, says: 

In recommending the simultaneous employment of gold and silver as 
money, we do not mean either to recommend a double valuation, or a 
double standard; we recommend two metals, wherewith to constitute a single 
paying and valuating money. The nature of this money is exactly de- 
scribed by the term "bimetallic." 

Monometallism is the use of one metal as money. In that case 
the one metal, gold for instance, is set apart from everything else 
and endowed with the money function. The number of money 
units then depends upon the quantity of metal devoted to monetary 
use. Bimetallism is the conjoint use of two metals, gold and silver, 
as money, at a prescribed ratio for the coins of each. In that case 
the number of money units that can be made from both metals de- 
pends upon the quantity of both used as money. In other words, 
the metals themselves are set apart as money substances with the 
right given to everybody to have them coined into money with full 
legal tender power. In the one case the mass of one metal becomes 
potentially the standard, in the other the mass of the two metals 
conjointly. Under bimetallism the standard is not, in any proper 
sense, a double standard, but a standard composed of two metals 
instead of one. 

Up to this point there is no complication and no difficulty in the 
way of a clear understanding of the use of one or both metals as 
money. But at this point confusion in the use of terms, and espe- 
cially in the idea of value, often enters. The first and most common 
error is in assuming that the value of either gold or silver resides in 
the metal itself and is independent of its use as moneyi, instead of 
growing out of their uses, or the demand for them, not solely, but 
chiefly, for money. The idea that the metals have an independent 
commercial value, at which they must be taken as money, is perhaps 
the most common error connected with metallic money. The truth 
is, there is not and never has been such a thing as commercial value 

174 




GENERAL A. J. WARNER was born in 1834; served through the 
war, and three terms in Congress. In 1874, when on a visit to England, 
he there first learned that silver had been demonetized in the United 
States. Foreseeing the consequences that must follow, he began imme- 
diately on his return to agitate for its remonetization; although having 
no interest in silver mines, has continued the advocacy of the cause. He 
has been president of the bimetallic union since its organization. 



BIMETALLISM— MONOMETALLISM. 175 

in, or attaching to, metals, or either of them, independent of, or sep- 
arable from, their money value. It is rather their money value, or 
money use, that determines their commercial value. In fact, the law 
determining the value of the precious metals is the same as that gov- 
erning the value of everything else — the law of supply and demand. 
It is not contended that all the gold or all the silver in the world is 
used for money. Nor is all, or even the larger part, of either used 
in the arts. To claim then that the value of either metal is deter- 
mined entirely by that part of it used in the arts, would be equiva- 
lent to saying that the value of a whole was determined by the use 
of or demand for a part only. This would be as absurd as to claim 
that the outflow of the Mississippi river was determined entirely by 
what entered the channel from the Ohio and not at all by what 
entered from other tributaries. The value of the whole and of every 
part of everything is determined by the total demand acting upon 
the total supply, and as the greatest demand for either metal has 
always been, and still is, for money, the chief source of value neces- 
sarily comes from this demand. To propose, therefore, that silver 
shall have the same value without the right of coinage or employ- 
ment as money, as it would have with this right fully restored, is to 
propose what is impossible. 

Source of Value in Metallic Money» 

Let us go a step further in our analysis of the source of value 
in metallic money. The advocates of so-called "sound money" 
claim that value, as to gold at any rate, resides in the substance, 
is intrinsic, and does not depend on law or any extraneous condi- 
tions. The same was formerly held to be true as to silver, but this 
metal, with gold monometallists, has lately undergone a marvelous 
change in this respect. But the truth that the value of money does 
not reside in the substance in which money units are embodied, or on 
which the insignia of money is impressed, but in the law that bestows 
on them the power of legal tender — that is, makes them money — is 
as old as Aristotle and the Pandects. 

Starting then with the axiom that it is the total demand acting 
upon the total supply of the metals, one or both, that determines 
their value, it is plain that if no gold, for instance, were used in the 
arts, there would be more for money, and more dollars or units of 
money would in that case be made, and the value of each unit would 
fall. On the other hand, if the law everywhere which gives to gold 
the power of legal tender, or that makes it potentially money, were 
annulled, the supply for the arts would be enormously increased 
and its value correspondingly diminished. The same would be true 
of silver if treated in the same way ; and it is the withdrawal from sil- 
ver of the right to coinage by a large part of the world, and thus 



176 THE SILVER SIDE— Campaign Text-Book. 

augmenting the demand for gold, and nothing else, that has changed 
the relative value of gold and silver. For if everywhere, either 
metal at the will of any one having payments to make, could be 
substituted for the other, the demand for one for money would be as 
great as for the other, and by this force they would be held together 
as one metal. In that case gold and silver would no more separate 
than one part of gold can separate from another part. If only the 
gold produced in Africa were monetized, and all other gold excluded 
from monetary use, there would at once arise a difference in the 
value of the gold produced in different quarters of the world. It is 
by giving the same money function to both gold and silver, and 
thus equalizing the demand for them, that bimetallism is made not 
only possible but entirely practicable. But in no other way can we 
have true bimetallic money. 

Inevitable Conclusions. 

The following general conclusions may therefore be stated: 

First. It is not the substance on which the money function, or 
power of legal tender is impressed, or in which it is embodied, that 
determines the value of money, but its quantity as compared with 
things to be bought and sold, debts to be paid, etc. 

Secondly. Nothing is money till made so by law, statutory or 
custom. 

Thirdly. When the metals are used for money without restric- 
tion, then the number of dollars or units of money that can be made 
depends upon the supply of the metals and the proportion devoted 
to monetary use. The supply embraces, first, the stock now in the 
hands of man, and, second, the annual production. Deduct from 
this total the loss by wear and otherwise, and what remains consti- 
tutes the total stock for the time being. The annual production, 
when largest, amounts to but a small proportion of the total in hand, 
and consequently, has less effect on the value of the metal, or on 
the supply of money, than is generally supposed. A close analysis 
of the law governing the value of metallic money therefore shows 
that it does not differ from the law governing the value of money in 
general. That is, if the same number of money units were embod- 
ied in or impressed upon any other material, and given the same 
legal tender power and use, the value of each unit and of the whole 
would be the same. This is but another form of statement of the 
law as given by Aristotle, Paulus, and Locke, that the value of 
money does not depend upon the substance used but upon its quantity. 

Nor is it at all necessary that the material used for money should 
be used for any other purpose than for money ; nor does the use of 
any part of the material used as money, for any other use, affect its 
value in any other way than by lessening the quantity that may go 



BIMETALLISM— MONOMETALLISM. 177 

into use as money. It is not necessary in order to give value to 
wheat for bread that it should be used for any other purpose, but if 
it is used for other purposes, that affects the value of wheat for bread 
only to the extent that it reduces the supply for bread ; so with gold 
and silver or anything else. 

When gold and silver are used for money, if their use be unre- 
stricted, there is a natural limitation to the quantity of money 
through the limitation of the supply of the metals ; and thus in a gen- 
eral way, and approximately, the supply is left to the same kind of 
regulation which governs the supply of everything else. 

It goes without saying that the supply of both gold and silver 
is greater than the supply of either alone. It is generally conceded, 
too, that the aggregate supply of both is steadier and more perma- 
nent than the supply of either alone, and therefore that the total vari- 
ation in the supply, and consequently in the value of both, is less 
than in either alone. The experience of all the past shows too that 
there never has been an excess of both metals for money, but on the 
other hand, that the supply of one alone has never been sufficient 
to answer the demands for it and prevent its appreciation. ' 

With gold monometallism there is no other outcome than a con- 
tinual increase in the value of gold and fall in prices. With bimet- 
allism, the conjoint use of both metals, the supply can probably be 
relied upon for a considerable time, at least, to keep pace with popu- 
lation and wealth, and thereby maintain fairly stable relations be- 
tween money and property. For, at bottom, the question of mono- 
metallism or bimetallism is one of money supply and upon an ade- 
quate money supply depend the prices of all property, the prosper- 
ity of the industrial world and the welfare of mankind. 



CHAPTER XIX, 

WILL BIMETALLISM BE RESTORED UNDER M'KINLEY. 



BY THE AUTHOR. 

This sincere and earnest inquiry is made by thousands who 
voted against Mr. McKinley and the single gold standard last 
November, and now by many who voted for him. His opponents, 
laying aside all partisan feeling, would be glad to see the restora- 
tion of bimetallism from whatever party or source it may 
come. The men who thus voted against the Republican party 
have since, even more carefully than before, studied the subject, 
and believing the demonetization of silver, and the adoption of the 
gold standard, to be a ruinous system, against the interest of the 
citizen and the nation, and realizing that there can be no perma- 
nent relief from the present deplorable conditions, no prosperity so 
long as the existing financial system is adhered to, they would 
gladly see the party in power, though not of their choice, do the 
best thing for the prosperity of all the people. Prosperity is the 
name of a state of business activity. It is that condition in which 
money is seeking investments in other forms of wealth, because 
of the greater prospects of profits in having one's wealth than in 
money. This is a sufficient answer to those who think there can 
be better times under the present financial system. 

One encouraging indication for the future comes from the fact 
that thousands who voted for Mr. McKinley and the single standard 
under the flattering promise of better times, finding all promises 
failures, and having had time to study the subject for themselves, 
now declare their intention to vote for a return to the use of both 
metals on terms of equality, but for the reasons hereafter stated, 
they have no hope from the present administration. 

This is the apparent condition at the opening of the campaign 
of 1900. All admit the main issue to be on the financial question, 
very little, comparatively, being said or written upon any other 
topic. The question then resolves itself into this, which of the 
two forces, the money power or the people, will win? 

If there were no extraneous conditions or circumstances to be 
considered, the majority would answer, as a despondent citizen did 
to the writer this date: "No use fighting money, it will win, just 
as it did last year; money rules the world." 

178 




MARION BUTLER, a native of North Carolina, was born May 20, 
1863. Graduated from the North Carolina University, 1885, and elected 
to the state senate in 1890. In 1892 he commenced the work of organizing 
the People's party. As chairman of the executive committee he has 
made a remarkable success in the building up of that party. He was 
elected United States Senator in 1895. His term of service will expire 
March 3, 1901. 



WILL BIMETALLISM BE RESTORED UNDER M'KINLEY ? 179 

The friend was answered that the changed conditions from 1896 
indicated hope, in fact, almost certainty that 1900 would show a 
great change and secure success. He was reminded of the suffer- 
ings condition of the country, far more intense than at the time of 
the November election, and to the fact that many Republicans 
voted with their party then, under the promises of better times to 
follow immediately ; they had been grievously disappointed ; further, 
that the people of all parties were studying the money question, and 
having looked over the history of their country from the time of 
the adoption of the constitution, authorizing congress to coin money 
and regulate the value thereof, also of foreign coin, and that the 
first congress, in conformity with that authority, adopted silver and 
gold as money, enacting the monetary unit to consist of 371 J grains 
of pure silver; gold at the same time made money, the dollar to 
contain 23.2 grains of the pure metal. 

In view of the changed condition above referred to, if the party 
in power adhere to the single gold standard as proclaimed at St. 
Louis, victory is sure for the constitutional money party, the party 
of the people in 1900, if not before. In answer to the inquiry, "Will 
bimetallism be restored under McKinley?" the writer regretfully 
answers in the negative, and for the following reasons: 

President McKinley in the Hands of the Money Power. 

The power that forced the gold standard upon the party at 
St. Louis, having now obtained complete control of that party, is 
just as anxious to perpetuate the system, and for the same reasons. 
It had persistently, though quietly, for many years worked for its 
adoption. 

McKinley for Silver in J 893. 

It is said in reply by Republicans yet of that party, but favorable 
to the use of silver: "The president has declared that he will 
exert all his influence in favor of the use of silver." Admitted, 
and possibly if McKinley could act independently he would redeem 
that promise, and the fact is called to mind that Mr. McKinley, 
in a speech made in Toledo, O., in 1893, speaking of President 
Cleveland, said: 

During all of Grover Cleveland's years at the head of the govern- 
ment he was dishonoring one of the precious metals, one of our great 
products, discrediting silver and enhancing the price of gold. He en- 
deavored, even before his inauguration to office, to stop the coinage of 
silver dollars, and afterwards, and to the end of his administration, per- 
sistently used his power to that end. He was determined to contract the 
circulating medium and demonetize one of the coins of commerce, limit 
the volume of money among the people, make money scarce, therefore 



180 THE SILVER SIDE— Campaign Text-Book. 

dear. He would have increased the value of money and diminished the 
value of everything else, money the master, everything else the servant. 

These are noble sentiments, worthy an American citizen. Many 
like expressions came from Mr. McKinley while in congress, and 
he is generally credited with being at that time, and up to the 
assembling - of the St. Louis convention, a friend of bimetallism. He 
then claimed, and yet claims, to be friendly to silver, but his hands 
are tied, because of the proviso of the St. Louis platform. England, 
being a creditor nation, will not adopt a bimetallic policy, believed 
to be, and probably is, against its interests. 

If, in 1893, discrediting silver by Mr. Cleveland had such a 
baneful effect; if demonetizing one of the coins of commerce 
made money scarce and dear, thus diminishing the value of every- 
thing else, then what is there to prevent the same cause producing 
the same effect in 1897? Mr. McKinley is placed in an unfortunate 
position, claiming to be friendly to silver and also claiming by his 
protective policy to be "an American of Americans," with his hands 
tied by the platform on which he was elected, and which he un- 
reservedly accepted, he therein endorsed the gold standard, repeat- 
ing his adherence to it in his inaugural. 

As the chosen representative of the Republican party, we ask, if 
the demonetization of silver did no harm, why should he ask the 
co-operation of other nations to remonetize it? 

If the restoration of silver will do no good, why say to other 
nations remonetize it and we will? 

If the demand for free coinage is merely a dishonest attempt 
on the part of silver miners to get a dollar for 50 cents' worth of" 
silver, why should this proposal of dishonesty be endorsed by in- 
ternational agreement? 

Mr. McKinley has widened the gulf between himself and the 
people, and added to the chains that bind him to the money power, 
contradicting the sentiments he uttered in 1893 in congress and 
before the people by choosing for his cabinet none but bankers 
and millionaires, possibly excepting one. Can any friend of bimetal- 
lism, be he Republican, Democrat, Populist or Silver Republican, 
cherish the most distant hope for the restoration of silver, or for any 
better times, during the presidency of Mr. McKinley? The presi- 
dent's counselors are all able men, but their interests are all for 
the continuance of the present money system, the making of the 
rich richer. 

Who can doubt where McKinley's secretary of state, John Sher- 
man, will stand on all monetary questions involving the interests 
of capital. There need be no doubt, he will stand where he has for the 
last thirty-five years or more — for the capitalists, and against the 
people. It is indeed not in evidence that a philanthropic thought 



WILL BIMETALLISM BE RESTORED UNDER M'KINLEY ? 181 

ever entered the brain of John Sherman, or a humanitarian emotion 
his gold hardened heart. 

The new secretary of the treasury is an honester man, but a 
devoted, earnest supporter of the gold standard, a banker with all 
his sympathies with the money interests. So it may be said of other 
members of Mr. McKinley's cabinet. All are expected to work 
in accord with the Republican party platform and its interests. 

When it came time for the president to speak, the people had 
been assured that relief measures would be proposed, and, further, 
that relative to foreign matters, the unsympathetic Cleveland silence 
would be condemned. Encouraging words for the patriots of Cuba 
and Hawaii were confidently promised. Alas ! all in vain ; McKinley 
has in that respect out-Clevelanded Cleveland, greatly to the dis- 
appointment of all sympathizers with and for people struggling 
for the boon of self-government. 

The relief measures promised, where, oh, where are they? As 
in the past, in promise only. No change recommended from the 
Cleveland administrative measures. Bonds, "payable in coin," are 
to be paid in gold, thus continuing its enhancement in value, and 
the continued depreciation of all American products, requiring twice 
and thrice in quantity to pay the appreciating value of the gold 
dollar. 

With all these unwelcome but truthful statements before them, 
if any Republican has cherished a hope that bimetallism will be re- 
stored by the McKinley administration, the expectation may as well 
be banished. Every movement by that party, in congress and out, 
confirms the position of the bimetallic party, that the only hope 
for a return to bimetallism is in the election of a congress in 1898 
thatwill, as far as possible, stop farther mischief by the present ad- 
ministration, and the election of the candidate of the bimetallic party 
for president in 1900. 



CHAPTER XX. 

A COMPOUND UNIT OF VALUE. 

BY THE AUTHOR. 

Many economic writers of prominence have in the past century 
laid stress on a compound unit of value, to be used as a medium 
of exchange instead of a metal coin of either gold or silver. The 
idea has been popularized in this country mainly by the writings 
of Hon. E. B. Andrews, president of Brown university, Provi- 
dence, R. I. President Brown's high standing among economic 
students was recognized when he was appointed by President Har- 
rison as an American delegate to the international monetary con- 
ference which met in Brussels in 1892. He is opposed to the single 
gold standard. 

He has presented with singular clearness, in Par. 87 of his 
Institutes of Economics (Boston, 1889), the proposition that an 
ideal monetary system would be one based upon the compound 
standard unit; because, with that unit maintained, general prices 
would neither rise nor fall. According to this theory, the operation 
of keeping to the compound standard unit would be by the critical 
summation, at intervals, of the prices of definite quantities and 
qualities of numerous articles, each having prominence in the re- 
sult, according to the amount of it consumed. If the sum as reck- 
oned today exceeded the sum at the last reckoning, prices have 
risen, the purchasing power of the monetary unit has fallen. A 
lessened sum at the second reckoning would mean falling prices, 
dearer money. Rising prices could, by this system, so its advo- 
cates claim, be checked by a judicious contraction in the circula- 
tion, as falling prices could by the proper expansion of the cir- 
culation. President Andrews believes, however, that bimetallism 
would for a very long time render quite unnecessary any artificial 
contraction or expansion, and would of itself continue general prices 
quite steady. 

Gold and Silver of the World. 

The monetary systems of different nations, and of our own 
have enlisted more of public attention, and are now more closely 
studied by intelligent American citizens, than ever before. "The 
Silver Side Text-Book" will not be expected to give an exhaustive 

182 




HENRY RIEGELMAN, the efficient faithful treasurer of the Iowa 
State Democratic Committee, was born in Marion, Ind., April 15, 1854. 
He was educated in the public schools of that state and graduated from 
the Terre Haute academy, one of the finest educational institutions of 
the United States. He came with his father's family to Iowa in 1870, 
and has since resided in Des Moines, now one of the leading business 
men. He was elected treasurer, his present official position in the Demo- 
cratic party, in 1892, and re-elected in 1896. 



A COMPOUND UNIT OF VALUE. 



183 



analysis of the subject. Nevertheless, every one interested would 
like to have the following questions answered: How much of the 
metals denominated precious have been produced since the dis- 
covery of America? How much in the United States? How 
much has been coined in the United States, and the proportion of 
each? What quantities have been exported and imported? What 
is the ratio in value in gold and silver in the leading nations 
of the world? What was the amount of money in the 
country per capita from i860 to 1894? These questions 
are answered from reports made by the secretary of the United 
States treasury, carefully studied by the author and may be relied 
upon as strictly accurate. 

In responding to the question, "What is the ratio in value of 
gold and silver in the leading nations of the world?" the following 
table, taken from the annual report of the secretary of the treasury 
for 1893, makes full and clear answer, to which is added the popu- 
lation and per capita ratio of every country named: 

MONETARY SYSTEMS OF THE WORLD. 

FEOH THE ANNUAL EEPOBT OF THE 8E0EETAEY OF THE TEEASUEY FOE 1893. 



OOUNTEIES. 


Monetary 
system. 


Ratio 

between 

gold and 

full legal 

tender 

silver. 


Population 


Stock 
of gold. 


STOCK 
OF 811, VEE. 


PEE CAPITA. 




Total. 


Gold. 


Silver. 


United States. 
United Kingdom . . . 
France 


Gold and silver. 
Gold 


1 to 15. 98 


68,900,000 

88,800.000 

88,300,000 

49,400,000 

6,200,000 

80,500.000 

2,900,000 

2,200,000 

17,500,000 

4,700,000 

5,800,000 

2,200,000 

43,200,000 

4,700,000 

2,000,000 

4,800,000 

2,200,000 

124,000,000 

89,200,000 

4,700,000 

6,800,000 

12,100,000 

3,800,000 

36,000,000 

41,000,000 

296,000,000 

360,000,000 

3,800,000 

4,800,000 

1,600,000 

1,000,000 

4,300,000 


$626,600,000 

550,000,000 

825,000,000 

625,000,000 

55,000.000 

96,000,000 

15,000,000 

500,000 

40,000,000 

88,900,000 

15,000,000 

3,000,000 

130,000,000 

27,600,000 

7,300,000 

6,500,000 

14,200,000 

455.000,000 

50,000,000 

105,000,000 

120,000,000 

5,000,000 

500,000 

40,000,000 

80,000,000 


$625,300,000 

112,000,000 

492,200,000 

215,000,000 

54,900,000 

30,000,000 

15,000,000 

3,000,000 

166.000,000 

24,800,000 

8,500,000 

1,900,000 

121,000,000 

56,500,000 

1,900,000 

4,800,000 

5,400,000 

48,000,000 

40,000,000 

7,000,000 

15,000,000 

50,000,000 

8,000,000 

30,000,000 

88,300,000 

950,000,000 

750,000,000 

115,000,000 

5,000,000 

1,500,000 

2,900,000 

6,800,000 


$ 9.09 
14.18 
21.54 
12.65 
8 87 
3.15 
5.17 
0.23 
2.29 
8.27 
2.59 
1.36 
8.00 
5.87 
3.65 
1.85 
6.46 
3.67 
1.27 
22.84 
17.65 
0.41 
0.15 
1.11 
1.95 

"2*.92 
11.25 
2.00 
0.18 


$ 9.08 
2.88 


Gold and silver. 
Gold 


1 to 154 


12.85 
4.35 


Belgium 

Italy 


Gold and silver. 
Gold and silver. 
Gold and silver. 
Gold and silver. 
Gold and silver. 
Gold 


1 to 154 
1 to 154 
1 to 154 
1 to 154 
1 to 154 


8.85 
0.98 


Switzerland... 


5.17 
1.36 




9.48 


Portugal 


5.28 


Gold and silver. 
Gold and silver. 
Gold... 




1.46 






0.86 


Austria-Hungary .. 
Netherlands .. 




2.81 


Gold and silver. 
Gold 


1 to 15% 


12.02 
0.95 




Gold 




1.00 




Gold 




2.45 






1 to 154 
ltol5% 


0.38 


Turkey 


Gold and silver. 
Gold 


1.02 
1.49 




Gold 




2.20 






i to 164 
1 to 154 
1 to 154 
1 to 16. 18 
ltol5 


4.13 


Central Am. States . . 




2.42 






0.83 




Gold and silver. 
Gold and silver. 


2.14 




8.21 






2.08 


Straits Settlements. . 


Gold and silver. 
Gold 






3.26 






14,000,000 

18,000,000 

2,000,000 

800,000 


1.04 


Cuba 


Gold and silver. 
Gold and silver. 
Gold and silver. 


1 to 154 

1 to 154 
1 to 154 


0.94 


Hayti 


2.90 


Bulgaria 


1.58 


Total 








$3,965,900,000 


$4,055,700,000 



















184 THE SILVER SIDE— Campaign Text-Book. 

The total of the gold product of the world, 1493 to 1893, was 
406,306,476 ounces, value $9,399,181,600. Of silver in the same 
time, 7,664,023,716, value $9,909,041,000. From this statement 
it will be learned how nearly equal these vast quantities of the two 
metals have been in total value. 

Product of Gold and Silver of the United States, 
In 1792 gold had been produced to the value of $14,000,000, 
amount of silver "insignificant." July 31, 1834, to Dec. 31, 
the value was of gold $7,500,000, of silver $250,000. In i860, the 
production of gold amounted to $46,000,000 and silver only $150,- 
000. In 1870 California's rich mines had commenced adding their 
rich treasures to the wealth of the country and there was added 
that year in gold $50,000,000 and in silver $16,000,000. In 1880 
the tide had turned in favor of silver, gold products $36,000,000, 
silver, $39,200,000. In 1893, gold $35,955,000, silver $77,576,000. 
Total product of gold from 1792 to 1893, $1,973,836,769, of silver 
total, same time, $1,232,849,000. Add the mint reports for 1894 
$39,500,000 gold, silver, coinage value, $64,000,000, and we have a 
grand total of the world's production in value, gold $8,579,876,300, 
and of silver value $10,129,129,000, the two precious metals pro- 
duced in our own country amounting to $3,206,685,769; again 
showing during the nineteenth century, how nearly equal, and com- 
panionable in interest, the two had traveled together the one hun- 
dred years. The making of these two metals to constitute our stand- 
ard dollars displayed the wisdom of the founders of the govern- 
ment, notwithstanding the base attempt of some of their degen- 
erate posterity in 1873 to gratify their greed by debasing one of 
these metals, the one nearest the people, being the cheapest, hence 
their ordinary and most useful medium of exchange. 

Coinage of the United States Mints* 
From the organization of the mints in 1792 to 1894 there had 
been coined in pieces of all denominations gold to the value of 
$1,711,886,288; silver coinage, $675,954,221.30. Add to this 
amount nickel, bronze and copper pieces $26,248,117.33 and we 
have the total — gold coinage, $2,944,058,465, and of silver and 
other metals, $2,414,082,626.63. 

IMPORTS AND EXPORTS OF GOLD AND SILVER. 



Why we used and legalized foreign silver. 

tn 1864 to 1894 gold imports, $765,719,950 exports, $1,317,240,101 

nl895to gold imports, 35,146,734 exports, 76.978,061 

Total of gold $800,866,684 $1,394,218,162 

□a 1864 to 1894 silver imports, $430,240,690 exports, $811,379,458 

m 1895 to silver imports, 9,552,520 exports, 47,227,379 

Total of silver $439,793,210 $858,606,770 



A COMPOUND UNIT OF VALUE. 
MONEY IN THE COUNTRY AND IN CIRCULATION. 



185 



June 30, 1695. 


General 

stock, coined or 

issued. 


In treasury. 


Amount in cir- 
culation 
July 1, 1895. 




$579,422,971 00 
423,289,219 00 
76,772,563 00 
48,469,959 00 
328,894,504 00 
146,088,400 00 
346,681,016 00 
55,755,000 00 
211,691,035 00 


$ 99,147,914 00 

371,306,057 00 

16,552,845 00 

88,390 00 

9,162,752 00 

30,109,692 00 

81,571,560 00 

350,000 00 

4,643,489 00 


$480,275,057 00 
51,983,162 00 
60,219,718 00 
48 381,569 00 










319,731,752 00 
115,978,708 00 
265,109,456 00 
55,405,000 00 
207,047,546 00 


Treasury notes, Act July 14, 1890 


Currency certificates, Act June 8, 1872. . . 




Totals 


$2,217,064,667 00 


$612,932,699 00 


$1,604,131,968 00 







The amount of money in the country, per capita, was $31.73, and the amount in circula- 
tion, per capita, $22.96. 

Previous to i860, our silver was all foreign, largely Spanish, 
Mexican and Canadian; we wanted silver coin for use and congress 
made all foreign coins legal tender. Jefferson and Jackson both 
recommended that because of the scarcity of silver it would be 
better to coin dimes, quarters and halves, hence only eight millions 
were coined into dollars previous to 1873. Opponents of silver 
have designedly perverted this circumstance, asserting that these 
two prominent democrats were opposed to the use of the silver 
dollar. 

This statement, obtained from official sources, shows the im- 
portant part our coinage system has contributed toward the mar- 
velous growth and prosperity of the country. Wherefore the de- 
sired change from the gold and silver standard, from bimetallism, 
to the single gold standard, was partially effected, unbeknown to 
the people, in 1873, and the nefarious scheme was fully accom- 
plished by the now dominant party in 1896. 

In other chapters of this work will be found a complete history 
of the demonetization of silver, giving its origin and the motives 
of the prime movers. In a sentence it can be said, it is an attempt 
of the money power to get entire legislative as well as business 
control of national interests. The closing political presidential 
campaign of the century will decide the question. 

Reader! rejoice that you are permitted to participate in this 
conflict between right and wrong. True, you are not called upon 
as were your ancestors in the closing years of the 18th century 
with musket and bayonet to meet British bayonets and bullets, to 
fight for liberty from England's crowned king, but you are called 
to a battle field no less important in its results, with the ballot to 
fight British gold, and overthrow a plutocratic power, seeking to 
make this like unto those countries where money has already 



186 THE SILVER SIDE— Campaign Text-Book. 

gained the control, and the people are subject to aristocratic class 
rule. 



To fight, 



In a just cause, and our country's glory, 
Is the best office of the best men; 
And to decline where these motives urge, 
Is infamy beneath a coward's baseness. 




CHAPTER XXI. 

AMERICAN BIMETALLIC UNION. 

Its Address to the People, 

BY GEN. A. J. WARNER. 

Every bimetallist should know of the existence of this efficient 
organization, and through a local auxiliary union put himself in 
connection with it. In the campaign of 1896, probably no organi- 
zation exceeded it in usefulness. Its history can be briefly given. 
A conference of well-known bimetallists was held in Washington, 
D. C, January 22, 1896, which resulted in the formation of the 
union, and the election of Gen. A. J. Warner, president; R. C. Cham- 
bers, Henry G. Miller, vice-president; Thos. G. Merrill, treasurer; 
Edw. B. Light, secretary. A committee was appointed to issue 
an address ; Senator John P. Jones, chairman. The address was re- 
ported and read by the chairman, and although one year has passed 
and the campaign of 1896 fought on the principles therein set forth, 
no bimetallist would change a sentiment enunciated. Its principles 
as set forth are as sacredly truthful today as then, and are here re- 
peated, for the very good reason that the issues are the same, and 
cannot be better stated. There is not a word of change necessary 
to adopt it to the necessities of the great 1900 campaign. 

Resolutions and Address to the People of the United States. 

The paramount issue at this time in the United States is indisputably 
the money question. It is between the gold standard, gold bonds and 
bank currency on one side, and bimetallic standard, no bonds, and govern- 
ment currency on the other. 

On this issue we declare ourselves to be in favor of a distinctively Amer- 
ican financial system. We are unalterably opposed to the single gold stand- 
ard, and demand the immediate return to the constitutional standard of gold 
and silver by the restoration by this government, independently of any for- 
eign power, of the unrestricted coinage of both gold and silver into stand- 
ard money, at the ratio of 16 to 1, and upon terms of exact equity, as they 
existed prior to 1873; the silver coin to be of full legal tender, equally with 
gold, for all debts and dues, public and private. 

We hold that the power to control and regulate a paper currency 

187 



188 THE SILVER SIDE— Campaign Text-Book. 

is inseparable from the power to coin money; and hence that all currency 
intended to circulate as money should be issued, and its volume controlled, 
by the general government only, and should be legal tender. 

We are unalterably opposed to the issue by the United States of inter- 
est bearing bonds in time of peace, and we denounce as a blunder worse than 
crime the present treasury policy, concurred in by a Republican house, of 
plunging the country in debt by hundreds of millions, in the vain attempt 
to maintain the gold standard by borrowing gold; and we demand the pay- 
ment of all coin obligations of the United States, as provided by existing 
laws, in either gold or silver coin, at the option of the government, and 
not at the option of the creditor. 

Whereas, The demonetization of silver in 1873 enormously increased 
the demand for gold, enhancing its purchasing power and lowering all 
prices measured by that standard; and 

Whereas, Since that unjust and indefensible act the prices of American 
products have fallen upon an average nearly fifty per cent., carrying down 
with them proportionately the money value of all other forms of property, 
except in peculiarly favored localities; and 

Whereas, Such fall of prices has destroyed the profits of legitimate in- 
dustry, injuring the producer for the benefit of the non-producer, increasing 
the burden of the debtor and swelling the gains of the creditor, paralyzing 
the productive energies of the American people, relegating to idleness vast 
numbers of willing workers, sending the shadows of despair into the home 
of the honest toiler, filling the land with tramps and paupers, and building 
up colossal fortunes at the money centers; and 

Whereas, In the effort to maintain the gold standard the country within 
the last two years, in a time of profound peace and plenty, has been loaded 
down with $162,000,000 of additional interest bearing debt under such cir- 
cumstances as to allow a syndicate of native and foreign bankers to realize 
a net profit of $10,000,000 on a single deal; and 

Whereas, Another call is pending for a future gold loan of $100,000,000, 
which, but for an outburst of popular indignation, would also have been 
negotiated in the same secret manner and through the same syndicate; and 

Whereas, It stands confessed that the gold standard can only be held 
by so depleting our paper currency as to force the prices of our products 
below the European and even below the Asiatic level, in order that we may 
sell in foreign markets, thus aggravating the very evils of which our people 
so bitterly complain, degrading American labor, and striking at the founda- 
tions of our civilization itself; and 

Whereas, The advocates of the gold standard persistently claim that the 
reason of our distress is overproduction — that we have produced so much 
that it has made us poor, which implies that the true remedy is to close 
the factory, abandon the farm and throw multitudes more out of employ- 
ment — a doctrine that leaves us absolutely without hope for the future; and 

Whereas, The difference of exchange between silver standard countries 



AMERICAN BIMETALLIC UNION. 189 

and gold standard countries is equivalent to a bounty, equal to the difference 
between the value of gold and silver, in favor of the products of the silver 
standard countries exported to silver using countries; and 

Whereas, The cost of production otherwise in the old world, and par- 
ticularly in China and Japan, is far less than the cost at which similar prod- 
ucts can be produced or manufactured in this country by American labor 
without reducing our farmers, miners, mechanics, manufacturers, and other 
industrial workers to the level of Chinese coolies; 

Therefore, be it resolved, That over and above all other questions of 
policy, we are in favor of restoring to the people of the United States the 
time honored money of the constitution — gold and silver, not one but both — 
the money of Washington and Hamilton and Jefferson and Monroe and 
Jackson and Lincoln, to the end that American people may receive honest 
pay for an honest product; the American debtor pay his just obligations 
in an honest standard and not in a standard that is appreciated ioo per cent, 
above all the great staples of our country; and to the end further that silver 
standard countries may be deprived of the unjust advantage they now enjoy 
in the difference between gold and silver — an advantage which tariff legis- 
lation alone cannot overcome. 

We therefore confidently appeal to the people of the United States to 
leave in abeyance for the moment all other questions, however important, 
and even momentous, they may appear, to sunder if need be all party ties and 
affiliations, and unite in one supreme effort to free themselves and their 
children from the domination of the money power — a power more destructive 
than any which has ever been fastened upon the civilized men of any race in 
any age. And upon the consummation of our desires and efforts we invoke 
the gracious favor of Divine Providence. 

November 7, 1896, after it was known that the bimetallic forces 
had been defeated, the following address was issued. Possibly 
before "The Silver Side" goes to press, General Warner writes the 
author, that a later appeal may be sent out, if so it will appear. 
Nothing can be better, however, than the following, coming directly 
to the great question at issue, and to be decided in the campaign of 
1 897- 1 900, either for the weal or woe of the people. For full infor- 
mation of the work, organizing local unions, etc., address any of 
the officers, care American Bimetallic Union, Washington, D. C. : 

To tive Silver Leagues and Bimetallic Unions of the United States* 

Silver has lost in this election, but the battle for the overthrow of the 
gold standard has not ended. The disastrous consequence that must attend 
upon the continuance of this standard makes it impossible to relinquish the 
struggle against it until it is finally overthrown. 

The gold standard cannot be maintained by increasing revenues, be- 
cause revenues are not paid in gold. The attempt to maintain the gold 
standard by perpetual loans must also sooner or later fail. The only other 



190 THE SILVER SIDE— Campaign Text-Book. 

way is by contracting the currency and forcing down prices so low that gold 
will come here of itself in such quantities as to constitute, in part at least, 
the currency with which revenues are paid, and no debtor nation can long 
maintain such a policy. Either course, therefore, leads to inevitable ruin; 
the one by bankrupting the government, and the other by bankrupting the 
people. Either policy will subject the United States absolutely to British 
domination, and hence the rejoicing of the British press over the defeat 
of silver here. 

The victory for gold is a victory of trusts and syndicate wealth, brought 
by corruption and coercion, and not a victory of the people or for the people, 
and it cannot last. There must be an end to the issue of bonds in the time 
of peace. There must also be an end to the constant appreciation of money 
and fall of prices. The appreciation of money alone, if allowed to go on at 
the rate it has gone on for the last 20 years, will, in half a generation more, 
transfer the bulk of all the wealth of this country from those who have 
created it to the hands of the few who control the money and own the 
debts. No power can be conceived so potent to gather wealth into few 
hands as the ceaseless, all pervading power of the appreciating money stand- 
ard. No civilization can stand against it. It must end or the foundation 
upon which free institutions rest will be broken up. 

The battle, therefore, for the restoration of silver must go on without 
abatement, and I urge all silver and bimetallic leagues and unions to keep 
up their organization and to continue the fight till victory for the people 
is finally won. 

The noble fight made by our intrepid leader in the campaign just ended 
endears him to all who believe in the righteousness of our cause, and under 
his leadership we believe victory will be won in 1900. 

A. J. WARNER, President American Bimetallic Union. 



CHAPTER XXII. 



UNITED STATES SENATORS' SILVER ADDRESS. 

It is generally well known that the withdrawal from the St. 
Louis National Republican convention of Senators Teller, Dubois, 
Cannon, Pettigrew, Mantle and Jones, and Members of the House 
Towne, Hartman, Shafroth and Allen, all Republicans, was the 
initiatory movement for the organization of the Silver Republican 
party. It is equally as well understood that the abandonment of 
their Republican associates was caused wholly because of the adop- 
tion by that convention of the single gold standard. On nearly all 
other questions they were in harmony with the party, but, regarding 
this as paramount to all others, their patriotic devotion to the 
country's interest overcame all partisan attachments. Tens of 
thousands of their fellow Republicans sympathized with them in 
opposition to the demonetization of silver, with the result that they 
became an important factor in the organization of the silver party 
of 1896, composed of Democrats, Silver Republicans and Populists, 
polling 6,508,691 votes, a protest against the single gold standard. 

The gentlemen above named have just issued an address, recom- 
mending a provisional committee and the calling of a national con- 
vention. The address is as follows. As it contains important state- 
ments and suggestions that will be appropriate for use throughout 
the campaign, we give it entire: 

An Address to the Silver Republicans of the United States. 

There could not be a better illustration of the great law by which in 
free government the rise, progress and decline of parties are determined 
than that afforded by recent and present political developments in the 
United States. Political parties are practical instruments for executing the 
will of the people in respect to principles and policies of government. 
They therefore should represent and respond to public opinion in its atti- 
tude toward the problems which the experience of the nation, from time 
to time, brings forward for solution. It is not parties that make issues, 
but it is issues that make parties. 

For years events have been forcing upon the country with ever in- 
creasing definiteness and emphasis, the necessity of reform in our mone- 
tary system, as respects both the coinage of metallic money and the regula- 
tion and control of credit currency. Under stress of experience and conse- 
quent investigation, opinions have been gradually crystallizing. In this 

191 



192 THE SILVER SIDE— Campaign Text-Book. 

process, the line of cleavage has paid little regard to previously existing 
party demarcations, and today the most careless observer cannot fail to 
see that the genius of the nation is approaching a settlement of this mo- 
mentous controversy through the agency of political instruments now 
being fashioned to its hand. 

Now, in the history of these formative events, the so-called Silver 
Republicans have taken an important part and discharged a necessary 
function. In doing so they have not surrendered their convictions on 
certain other great principles of political economy and government, but 
they realize that those principles are not capable of successful applica- 
tion under present monetary conditions. They believe, therefore, that the 
adequate treatment of all other issues must await the correct decision of 
the dominant one thus presented. 

In this spirit they co-operated with the organized forces of bimetallism 
in the last campaign. Every consideration of patriotism and expediency 
seems to counsel a continuation of that policy. Silver Republicans believe 
themselves to be in harmony with the original spirit of the old Republican 
party, and they claim l a property in its great name and glorious traditions^ 
justified by the splendid services and sanctified by the sacred memories of 
the time when that party embodied the aspirations and spoke the purposes 
of the great masses of the American people. 

Circumstances have sometimes in the past thrust upon the undersigned 
responsibilities on behalf of Silver Republicans which, in the absence of 
formal organization, we have felt warranted in assuming. Recently, more- 
over, we have been receiving a vast number of anxious inquiries from 
various parts of the country upon the question of party polity and re- 
questing us to give some definite direction thereto. These communications 
exhibit a surprising and gratifying unanimity in sentiment and plan. Re- 
sponding to these earnest suggestions, and at the same time expressing our 
own deliberate opinion, we urge upon the Silver Republicans of the 
United States, and upon all citizens of whatsoever previous party associa- 
tions, who are willing to co-operate with us in political action until the 
great monetary issue is settled right, that immediate steps be taken to per- 
fect organization in the various states and territories, to the end that there- 
after a national convention may be held for the purpose of making an 
authoritative pronouncement to the country, and effecting a national or- 
ganization. As soon as possible, each of the states and territories should 
designate a member of the provisional committee (national) of the Silver 
Republican party, which committee will have charge of the calling of the 
national convention and of all matters preliminary thereto. Meanwhile, 
we have taken the liberty of naming Hon. Charles A. Towne, of Minne- 
sota, as chairman of said provisional national committee, whose official 
address for the present will be the city of Washington and to whom all 
communications should be sent. 

The provisional national committee is hereby called to meet in executive 



UNITED STATES SENATORS' SILVER ADDRESS. 193 

session at the city of Chicago, at a place to be seasonably announced by 
the chairman, on Tuesday, the 8th day of June, 1897. 

Signed, at the city of Washington, this 226. day of February, 1897, the 
anniversary of the birth of the "First American," whose life was a sublime 
example of patriotism, and whose precept, placing duty to country above and 
beyond all party obligations, is a deathless watchword for political liberty. 
H. M. TELLER, of Colorado, 
FRED T. DUBOIS, of Idaho. 
FRANK J. CANNON, of Utah, 
R. F. PETTIGREW, of South Dakota, 
LEE MANTLE, of Montana, 
JOHN P. JONES, of Nevada. 
CHARLES A. TOWNE, of Minnesota, 
CHARLES S. HARTMAN, of Montana, 
JOHN F. SHAFROTH, of Colorado, 
C. E. ALLEN, of Utah, 
EDGAR WILSON, of Idaho. 



It 



CHAPTER XXIII. 

IOWA FREE, SILVER ADDRESS. 

BY A SPECIAL COMMITTEE. 

At a convention, composed of delegates from different parts of 
Iowa, representing the Democratic, Silver Republican and Pop- 
ulist parties, convened in Des Moines December 29, 1896, a com- 
mittee of three, representing the parties named, was appointed to 
issue an address to friends of silver restoration. 

The following is their report ; containing, as it does, statements, 
arguments, and suggestions that will be valuable to friends of 
bimetallism and opponents of the gold standard in all the states, 
the author is confident that the few pages of "The Silver Side" used 
for that purpose cannot be better occupied than by giving extracts 
from this stirring address: 

Profoundly convinced that there can be neither business security nor 
industrial prosperity until we return to the unrestricted coinage of both gold 
and silver at the established ratio, and until we adopt for ourselves an inde- 
pendent American system of finance, we therefore unanimously recommend: 

First — That the union of the free silver forces effected in the late cam- 
paign be declared permanent upon the basis recognized in that struggle. 

Second — We further recommend that our separate organizations be 
maintained and that in the future all conventions of said parties, state, 
district and county, be called to meet at the same time and place and that 
they agree upon the same candidates. We further recommend the immedi- 
ate formation of free silver clubs in every township and voting precinct in 
the state. 

No Prosperity Without Silver, 

Your committee would first call attention to the unanimous declara- 
tion of the conference "that there can be neither business security nor in- 
dustrial prosperity until we return to the unrestricted coinage of both gold 
and silver at the established ratio." That the adoption of the single gold 
standard would not promote business security or stability was foreseen and 
predicted by eminent statesmen and financiers many years ago. 

Some Evidence of the Need of Silver. 
The opinions cited are not exceptional, but are those generally held 
and expressed by eminent European statesmen and economists. The pre- 

194 



IOWA FREE SILVER ADDRESS. 195 

dictions were fulfilled to the letter so far as the United States, Australia 
and other debtor countries are concerned. As to the actual results in this 
country, referring more particularly to the last three years, we need only 
point to the large number of railways that have gone into the hands of 
receivers; the failures of banks, loan companies and other financial insti- 
tutions; the closing of mills and factories and the discharge of their numer- 
ous employes; the financial embarrassment of merchants and traders; the 
depressed condition of agriculture and the low prices of agricultural prod- 
ucts; and finally the thousands of workingmen and women unable to find 
employment, besides the reduction in wages in nearly all lines of industry 
where employment can be found. 

It is hardly denied that the sole aim and purpose of those who desire 
to establish and maintain the single gold standard is to make money scarce 
and dear; and, as a necessary consequence, to make property undesirable 
as an investment and thereby lower its price, and to lower the wages of 
labor in every calling. The single gold standard means, so far at least as 
this and other debtor nations are concerned, a perpetual financial crisis. 

Co-operation Necessary. 

It is essential for a people suffering from such a ruinous policy to 
combine for self-preservation. The supreme reason why the elements which 
supported Mr. Bryan in the recent campaign should continue to ignore 
party lines and maintain their patriotic alliance is the moral certainty that 
in the ensuing four years substantial industrial relief will not be supplied. 
The very first developments after the election discredited and negatived a 
theory and a promise held and made by our opponents during the campaign. 

There was no one point upon which they dwelt with greater emphasis 
than that the depression of prices and production was the result of a lack 
of confidence due to the silver agitation; and they invariably supplemented 
the affirmation of this postulate with the assurance that the success of Mc- 
Kinley, involving, as it would, a guaranty of the perpetuation of "the 
existing gold standard," would promptly dissipate fear and restore confi- 
dence, and by bringing back confidence restore prosperity. When it be- 
came known that McKinley had received a majority of the electoral votes 
a fictitious and obviously prearranged attempt to cause it to appear that 
confidence had returned was made. The banks, which had been hoarding 
the coin, began paying out in gold, and to fulfill the promise that with the 
overthrow of free silver better conditions would be ushered in it was an- 
nounced that everywhere the people were withdrawing gold from its hiding 
places and putting it in banks, and that scores of mills and factories which 
had long been idle were about to reopen, while other scores that had been 
running with a small number of hands on short time were at once to run 
with a large number on long time. The "revival" was as unsubstantial as 
the fabric of a dream. It ended almost as soon as it began. Since the 
people had no gold hidden the ruse to get it into the banks naturally, failed, 



196 THE SILVER SIDE— Campaign Text-Book. 

and as consumers were no better able to buy in November than they had 
been in October, the mills and factories did not reopen. They remained as 
they had been, and as they must remain till in the orderly course of events 
there. is demand for their products. When this comes through increase of 
the purchasing power of the people they will be stimulated to activity, not 
before. 

Say Promises "Were Not Fulfilled* 

What has actually occurred is the reverse of what the supporters of 
the gold standard foretold and promised. Bank after bank has failed, in 
manifold instances with heavy loss to both stockholders and depositors; 
manufactories and mercantile houses have rapidly collapsed; production 
has been curtailed in many branches of industry; the number of employes 
cut down and the wages of the remainder reduced; collections were never 
harder to make and rarely have foreclosure suits been so numerous; prices 
and profits go on declining; in the centers of population there never was 
greater bestowal of charity nor so much need of it; and throughout the 
land there is general and keen distress. Granting that McKinley's election 
has broqght a return of confidence, it is manifest that confidence has not 
restored and cannot restore prosperity. 

The more candid of those who so glibly proclaimed that the silver 
agitation was the cause of the "hard times" and that Mr. Bryan's defeat 
would bring confidence and prosperity, now reluctantly confess their error; 
but unwilling to admit that they were wholly mistaken, they declare that 
what they predicted will be realized when the new congress has substituted 
a protective tariff law for the Wilson-Gorman act. Bimetallists differ on 
the subject of tariff, but they concur in the belief, a belief fortified by ex- 
perience, analogy and reason, that no tariff, high or low, for protection or for 
revenue, can bring prosperity to the country while silver is demonetized. 

Gold Should be Cheaper. 

It is as necessary that the value of gold shall be reduced and kept 
down, or, what is practically the same, that silver shall advance and the 
advance be permanently maintained, as that the circulating medium shall be 
increased by free and unrestricted coinage. Under normal conditions the 
price of wheat and cotton, the former one of the great staples of the north- 
west and the latter the chief staple of the south, is governed by the price 
of silver, and therefore while silver remains low wheat and cotton must 
remain low and producers of the staples cannot pay living prices for 
other farm products. Silver is the money of the orient, and, with produc- 
tion the same as usual throughout the world, the London price of Amer- 
ican wheat and cotton is the silver price of India wheat and cotton. The 
difference in exchange between gold and silver standard countries is the 
difference between the price of gold and silver, and until this disparity, 
whichJaas widened ioo per cent, since 1873, when the metals were practically 
at a parity, has been almost, if not quite, obliterated, wheat and cotton pro- 



IOWA FREE SILVER ADDRESS. 197 

Auction will be unprofitable. Their production can be made profitable only 
by depriving gold of its artificially high value, thus enhancing the price 
of silver. With our mints reopened silver would go to $1.29 an ounce and 
stay there, and because European importers would have to pay this price 
for it and corresponding prices for oriental wheat and cotton, American 
wheat and cotton would go up and stay up with silver. 

C©MMITTEE. 



CHAPTER XXIV. 



THE MONEY POWER— WARNINGS TO ORGANIZED WEALTH. 



COMPILED BY THE AUTHOR. 

Organized wealth and power have not yet grown wise enough to 
scent danger before it is upon them. The eastern section of our country 
is already in danger, and I have an impression that it does not see this. 
In its concentration of the wealth of the country and in its ostentatious 
display of its wealth, in the gradual cultivation of caste, in the tendency 
to hug its vast riches, and in finding the means to keep its millions at 
home, let it behold a danger it will do well to consider in the light of both 
ancient and modern history. If it has any real statesmen they cannot put 
their genius and resources to better use than to formulate some policy 
which will bring the conflicting elements together. 

Henry Watterson. 



In 1800 we were a few million of people, and we loved liberty. In 1900 
we are nearly a hundred million of people, and we love money. Moreover, 
individually and collectively, we have a great deal of money. Most of this 
money is invested in what we call corporations, From a handful of indi- 
viduals we have become a nation of institutions. The individual counts for 
less and less, organization for more and more. It is the idiosyncrasy of 
the age we live in. Ibid. 



The rich of the country are most thoroughly organized. They have their 
bond syndicates, their trusts and other combines, and in their palatial clubs 
they disseminate the principles of plutocracy. 



When a country is young, it generally cultivates democracy for mutual 
protection; as it progresses, wealth centers and aristocrats arise who seek 
to have laws enacted that are positively criminal. 

Jas. F. Nugent, LL. D. 

Whenever the people permit the money power to conduct a national 
compaign, money to be furnished by men known to be for selfish interests, 
such interests will, in time, control the agencies that conduct the campaign. 
The money thus contributed will be used to advance the policies of the 
selfish chaps furnishing the money. 

It makes little difference what politicians may say or political economists 

198 



THE MONEY POWER. 199 

may demonstrate, the fact remains that the conditions with which the 
agriculturists and artisans have to contend are worse than they have ever 
been. I live in one of the richest counties in Virginia, and the conditions 
there are more unfavorable to profitable farming than I have ever known 
them to be. Our farmers have abundant crops, but are unable to sell them 
for more than the cost of production. Unless there is a change, our 
people will demand in the next campaign legislation which promises to 
benefit them, without regard to the interests of the money centers of the 
country. 

If some legislation is not enacted to check the growing influence 
of wealth and to circumscribe the power of the trusts and monopolies, there 
will be an uprising of the people before the close of the century which 
will endanger our very institutions. 

Ex-Secretary Francis, of Cleveland's Cabinet. 



My views upon the connection between business and politics are 
mentioned in a speech at a Republican meeting in Pittsburg a few days 
previous to the presidential election. I am opposed to the entire scheme 
of the National Business Men's League, as disclosed by Mr. Dolan. Its 
basic theory is that organized wealth shall dictate high office, and so 
take possession of the government. The promoters of the league invoke 
a class against the masses and all other classes. No league of business 
men or other men, based upon wealth or other foundation, can erect a 
government class in this country. In the United States senate we have 
millionaires and business men enough to serve all legitimate purposes. 
Senators are needed who have no specialties, but who will act for the 
interest of the country in gross without special affinities. The people 
most deserving of a representation and most in need of legislative pro- 
tection are the farmers, the small store keepers, the artisans and the 
laborers, and I stand by them and against this so-called league. I go into 
the barricades with the bourgeoise and the men in blouses. 

In conclusion, I do not believe that 10 per cent, of the business men 
of the country sympathize with the league. There must be less business 
and more people in politics, else the Republican party and the country 
will go to wreck. The business issues are making our politics sordid and 
corrupt. The tremendous sums of money furnished by the business men 
— reluctantly in most instances — are polluting the well springs of our 
national being. U. S. Senator Quay, of Pennsylvania. 



No country can be prosperous with an increasing population and a 
decreasing volume of money. U. S. Senator Vest. 

The system of a gold standard is the vilest monopoly ever maintained 
in the brain of man. 



200 THE SILVER SIDE— Campaign Text-Book. 

Many would like to see a score of very important questions command 
public attention in the coming four years. But the most important ques- 
tions are not always the most important issues. Questions and issues 
are not necessarily synonymous. An important question may not be an 
issue at all, and a very insignificant question may be a very important issue. 
An issue is the point of contention on which persons or parties rest a 
decision. Its importance or unimportance makes little or no difference. 
Whatever question the people divide on is the issue in a political cam- 
paign, without regard to the vitality of the proposition involved. It often 
happens that, when a great national question is made an issue, a com- 
munity of a whole county may divide on the question of removing a 
county seat, and in such case the barriers between the contending fac- 
tions frequently become so strong that the comparatively insignificant 
question, the removal of the courthouse, completely overshadows national 
issues. 

The money question, I think, is very important, but whether it is or 
not, it is the pivotal question on which party organizations are making a 
test of membership, and, therefore, it will continue to be the battle cry in 
the coming fight, in spite of all efforts to prevent it. 

Political campaigns are fought out on whatever question the contend- 
ing factions can force to an issue. When all the people support or 
oppose a certain proposition, it cannot be an issue. 

With the overflow of the money power, the people may secure a score 
of other needed reforms, but the battle of ballots will be fought around 
the money question, and our reformers who are just now smothering 
the fire by shoveling coal into the furnace too fast, or choking the 
cylinder by overcrowding the grain, are doing more to retard the reform 
movement than they are to advance it. I do not accuse them of bad 
intentions, far from it, and I believe the work of agitation and education of 
all the great reforms demanded by labor should be continued, but the issue 
is made up, the fight is on, and we must accept the situation whether 
we wish it or not. We cannot fight the enemy on just the kind of field 
we would like to, but we must fight him where we meet him, or retreat. 
And retreat we never will. 

J. R. Sovereign, General Master Workman. 




WILLIAM A. SPURRIER, a native of Pennsville, Ohio, was born 
March 12, 1853. Educated in the public schools, supplemented with two 
years by private professional tutor. Admitted to legal practice in 1876. 
In 1882 elected city solicitor of Creston, la. In 1891 district attorney of 
the Ninth judicial district. Appointed district judge in Des Moines in 
1893, and re-elected for full term the same year. A Republican up to 
1896, when, refusing to follow his party's yielding to the money power, 
he identified himself with the Silver Republicans. 



CHAPTER XXV. 

THE SUPREME COURT. 

Encroachments of the Federal Judiciary. 

BY JUDGE W. A. SPURRIER. 

The Chicago convention declared that the late income tax law 
was in harmony with the decisions of the supreme court of the 
United States for nearly one hundred years, and that in declaring 
it unconstitutional the supreme court had sustained objections to 
the law which had been previously overruled by the ablest judges 
who had ever sat on that bench; and the convention further de- 
clared that it was the duty of congress to use all of the constitu- 
tional powers remaining after the decisions or which might come 
from its reversal by the court as it may hereafter be constituted, 
so that the burdens of taxation may be equally and impartially 
laid, to the end that wealth may bear its due proportion of the 
expense of government. These declarations called forth the most 
vehement criticism of almost the entire press during the ensuing 
campaign. The plank in the platform was declared by those fa- 
voring the decision to be an attack upon the supreme court, and an 
attack upon the supreme court was construed to be little less than 
treason to the United States government. Many candid men were 
led to believe that this judicial tribunal was too sacred for criticism, 
and an awe was evoked comparable only to that which history 
shows pervaded the doctrine of the divine right of kings. 

The Chicago Convention Justified. 
That the convention was justified in adopting this plank in its 
platform is shown by statements made at the time of the decision 
by four of the supreme court justices, who filed dissenting opinions. 
Mr. Justice Brown said: 

As I cannot escape the conviction that the decision of the court as 
in this case is fraught with immeasureable danger to the future of the 
country, and that it approaches the proportions of a national calamity, I 
feel it my duty to enter my protest against it. 

Mr. Justice Harlan said: 

201 



202 THE SILVER SIDE -Campaign Text-Book. 

In my judgment — to say nothing of the disregard of the former adjudi- 
cations of this court, and of the settled practice of the government — this 
decision may well excite the gravest apprehensions. It strikes at the 
very foundation of the national authority, in that it denies to the general 
government a power which is, or may become, vital to the very existence 
and preservation of the Union. 

And much more of like import may be found in the dissenting 
opinions, all of which certainly is within the pale of respectful crit- 
icism. 

Though the opinion had been concurred in by all the judges, 
yet surely it would have been subject to inspection of others, and 
that it is the right, and even the duty, of a citizen to freely discuss 
and criticise a wrong or error committed by the supreme court will 
not be denied by any candid and intelligent man. 

The effect of the violent denunciation by the monopolistic press 
of this plank in the platform was so potent, and this feature of the 
campaign so prominent, that a consideration of its essentials will not 
be without profit. I shall discuss not only the propriety of such 
criticism and the necessity for it, but shall give some attention to 
the history of the court and the causes which have led to its present 
attitude toward the other co-ordinate branches of government, and 
the people. 

Nature has imposed upon man an inclination to reverence that 
which he does not understand, and as a knowledge of the law is ac- 
quired by, but a limited number of persons, it is not strange that 
those who possess no understanding of or but a limited knowledge 
of the law, are generally imbued with a high respect for the wisdom 
of courts, and especially for the wisdom of the supreme tribunal of 
the land. The decision of that bench is final, and, in one sense, in- 
fallible. Great learning, associated with supreme power, naturally 
begets in the minds of those who consider themselves inferior in 
understanding a feeling akin to worship. Practically speaking, 
also, the federal judges retain their positions during their natural 
lives, and the power of criticism is almost unavailing to relieve 
any one of them of his office. The average citizen usually comes in 
contact with the courts in the inferior tribunals, in the state nisi 
prius courts, where the judge is constantly and publicly declaring 
the law during the progress of trial. Each cause is tried in these 
courts with reference to the law and the facts. Jurors are sworn to 
try the cause according to the law and the fact, the facts as they 
understand them, and the law applicable thereto as given by the 
court. So that the very surroundings tend to impress upon the 
common mind the idea of a judge as the embodiment of the law. 
It is because of these circumstances that so much influence can be 
exerted in a political campaign against a candidate whose party 



THE SUPREME COURT. 203 

rightfully presumes to question decisions of the courts. It is con- 
strued by the opposition as an attack upon the law, and therefore 
as an act of disloyalty; and presuming upon the inability of many 
citizens to discriminate between the fact as to what the law is and 
the decision of the court when it is contrary to law, men possessing 
the greatest fealty and the highest respect for the law may become 
the dupes of unprincipled politicians, who ever seem to< revel with 
joy in the thought of wearing the livery of heaven as an aid to serv- 
ing the evil one. 

Lincoln and Douglass Debate, Their Views of the Supreme Court. 

All of this belongs strictly to "the pool'' of politics. Yet, in the 
heat of political contest, men considered respectable have been 
known to favor such an advantage. Mr. Douglass attempted to 
so impose on the candidacy of Abraham Lincoln in their senatorial 
contest, and no doubt succeeded to some extent. It is interesting 
to note the manner in which Mr. Lincoln met the charge that he 
was disloyal because he had denounced a supreme court decision. 
His replies show that he understood the nature of the advantage 
sought against him, and demonstrate as well the grasp of his mind 
and power to penetrate and destroy sophistries — to lay such reason- 
ing bare to the minds of common people. Quoting from his reply 
to Mr. Douglass, briefly, he said: 

The plain truth is this: Judge Douglass is for supreme court decisions 
which he likes, and against them when he does not like them. He is for the 
Dred Scott decision, because it tends to nationalize slavery, because it is a 
part of the original combination for that object. It so happened, singularly 
enough, that I never stood opposed to a supreme court decision until this; 
on the other hand, I have no recollection that he was ever particularly in 
favor of any until this. He never was in favor of any, nor I opposed to 
any, till the present one, which helps to nationalize slavery. 

Mr. Lincoln's argument was, first, the decision which I de- 
nounced is a part of a conspiracy to nationalize slavery; second, I 
sincerely advocate the cause of humanity ; and third, in making this 
charge Judge Douglass is altogether insincere. 

But again, in the following debate, Mr. Lincoln said: 
The sacredness that Judge Douglass throws around this decision is a 
degree of sacredness that has never been before thrown around any other 
decision. I have never heard of such a thing. Why, decisions apparently 
contrary to that decision have been made by that very court before. It is 
the first of its kind. It is an astonisher in legal history. It is a new wonder 
of the world. It is based upon falsehoods in the main as to the facts. 

Let those who have professed love and devotion for the life of 
Lincoln reflect and then say whether or not the decisions of the 



204 THE SILVER SIDE— Campaign Text-Book. 

federal courts must be received by the people of the United States 
without question, however their liberties are put in peril thereby. 

In the formation of the federal constitution there were two prom- 
inent ideas asserted. On the one hand it was contended that the 
president, senators and judges should hold their offices during their 
natural lives; on the other hand it was thought that officers should 
be elected by the people for a specific term of years. The argument 
in favor of the first proposition was that the government would be 
unstable unless its officers were given a life tenure. In support of 
the second proposition the argument is that the stability, of this gov- 
ernment depends upon frequent elections, making the officials re- 
sponsible to the people, and the proper conduct of their several 
offices necessary in order to secure re-election. Fortunately, as I be- 
lieve, the proposition to confer life offices was defeated in both the 
executive and legislative branches, and unfortunately, it seems to 
me, it practically succeeded in the judiciary department. It may 
be added that the man who supplied the guiding hand in favor of life 
tenure was opposed to a republican form of government and as- 
serted that the form of government of Great Britain was his 
"model." In so far, at least, as his theories succeeded, to that ex- 
tent the good or evil of British policies fell to our lot. 

Life Tenure of Office Criticised. 

The scope of this article is much too limited to give any proper 
consideration to a theme of such vast importance, but I may say 
in a general way that it seems apparent that most of the great evils 
from which the people in this country are now suffering are the re- 
sult of the partial adoption of the erroneous view of those who advo- 
cated a life tenure. But it was only one of a series of compromises 
which seemed necessary in order to secure the adoption of a consti- 
tution by, the colonies. In adopting the constitution, the jurisdic- 
tion (that is, the right to hear and determine questions) of the federal 
courts was carefully guarded. May I, without apology, and in 
order to show the spirit and opinions of the times, call attention to 
a few lines in the Declaration of Independence? "We hold these 
truths to be self evident; that all men are created equal. * * * 
with certain inalienable rights, among which are life, liberty, and 
the pursuit of happiness." It will be noticed that the rights of men 
are emphasized, and that to secure the rights of men governments 
are instituted, that men may have life, liberty and pursue happi- 
ness. Says the Declaration, "Governments are instituted among 
men to secure these rights; governments derive their just powers 
from the consent of the governed." I emphasize these words because 
it is now charged that we are no longer a government of natural per- 
sons, that is a government of the people, by the people, and for the 



THE SUPREME COURT. 205 

people, and it is claimed that we have become a government of corpo- 
rations, by corporations, and for corporations. And while I would 
not advocate the abolition of corporations and believe that, existing 
under proper restrictions, they are an aid to legitimate progress, 
yet if there is any merit in the claim that the rights of natural per- 
sons have been supplanted by privileges granted to corporations, 
it is time to ascertain through what source this appalling evil has 
found its way into the texture of the body politic. The corporation, 
if it exists at all, should exist as an aid in developing our resources, 
as a blessing to natural persons who constitute the government, 
and not with power to control or overthrow the liberties of the peo- 
ple. The moment the rule of the people is destroyed, that moment 
the republic is dead. For a republic does not consist of a president, 
congress and a judiciary, but only in the fact that the people of the 
government control it. When they cease to control, the republic 
is as effectually killed as though seized upon by a monarch or de- 
stroyed by revolution. Whatever progress the corporations have 
made in dethroning the people has been effected chiefly through the 
federal judiciary. The Dartmouth college case is one of the first 
of many remarkable decisions of the supreme court which have ex- 
tended power to corporations. In that case the court held that 
a charter granted by the king of England to Dr. Wheelock and his 
associates prior to the war of the Revolution was a contract. The 
legislature of the state of New Hampshire sought to modify the 
charter of Dartmouth college, and the question for determination 
by the supreme court was whether the legislature of New Hamp- 
shire by the enactment of a law for that purpose had impaired the 
obligations of a contract. The federal court had no jurisdiction to 
try this case under the provisions of the constitution of the United 
States unless the law adopted by the legislature of New Hampshire 
had the effect to impair the obligations of a contract. If the law of 
New Hampshire had not such an effect, the supreme court had no 
power or jurisdiction and could do nothing but dismiss the case. 

Decision of Supreme Court Not Always Correct — Sometimes Arbitrary. 

I do not intend to discuss the merits of this decision further 
than to say that the legislature of New Hampshire after the Revolu- 
tion succeeded within the territory of that state to all the power 
which parliament had possessed over it except as limited by the con- 
stitution of the state of New Hampshire and the constitution of the 
United States, and to call attention to the fact that there is nothing 
in the charter of the king stating that it was a contract or intended 
as such, nor that anything was given in consideration for it. The 
instrument did not contain the elements necessary to even the sim- 
plest form of contract. 



206 THE SILVER SIDE— Campaign Text-Book. 

The direct result of the decision in declaring a charter a con- 
tract was to send lobbyists with corruption funds into our legisla- 
tures to procure charters which, by this decision, were declared 
irrevocable. And no matter how much corruption or fraud was 
resorted to in order to obtain a charter, the charter once granted 
became a contract which was greater than the legislature of the 
people of the state that granted it. Legitimate legislation for the 
time was forgotten. Legislative bodies were literally filled with 
paid agents and tools of the promoters of corporations, and it was 
not until the people of the several states through a long and tedious 
course of legislation, and by remodeling their constitutions so as 
to prevent the passage of special laws granting or amending char- 
ters and providing for the formation of corporations under general 
laws, that the increasing aggressions of the corporations in this 
direction were stayed. Nevertheless, the opinion stands as a mon- 
ument, disclosing the error of establishing a life judiciary and the ' 
tendency of such a system toward the oppression of the masses and 
the destruction of the liberties of the people; however, the deter- 
mined and laborious efforts resorted to in order to defeat the vicious 
effects of this decision give us the inspiration of hope that the 
people may eventually succeed in destroying that pernicious element 
which was permitted to creep into the framework of our govern- 
ment at the time of the adoption of the federal constitution. 

The constitution of the United States provides that the judicial 
power of the United States shall extend to controversies between 
citizens of the different states. For over half a century the supreme 
court of the United States held that the word "citizen" did not in- 
clude in its meaning anything more than natural persons who were 
citizens, and that the right of a corporation in one state to sue a 
citizen of another state in the federal courts depended upon whether 
all of the natural persons constituting the corporation were citizens 
of a different state from the one in which the adverse party resided. 
That is to say, in order that the federal court should have jurisdic- 
tion, all the members of the corporation must reside in a different 
state than the person against whom the suit was brought. The rule 
was in strict harmony with the theory that had always been applied 
to corporations relative to questions of jurisdiction. But upon the 
first appearance of a railroad corporation in the supreme court, this 
principle, so well settled, and which had been so rigidly adhered to 
during the past, was promptly reversed, and corporations were de- 
clared to be citizens of the state from which they obtained their 
charters. 

The effect of this decision was to make an artificial person, for 
the purpose of jurisdiction in the federal courts, a citizen, and cre- 
ating rights at court depending, not upon the residence of the nat- 



THE SUPREME COURT. 207 

ural persons who composed the corporation, but upon an assumed 
geographical location of this ideal, or imaginary, creature, with ref- 
erence to the actual residence of persons adversely interested. The 
court says that it will be presumed that all the members of the cor- 
poration are residents of the state where the corporation is organ- 
ized. This, of course, is a violent presumption and scarcely ever in 
accord with the truth. But the opinion goes further and holds that 
the presumption is conclusive, not only that the corporation need 
not show that its members are residents of a different state from the 
defendant, but that the defendant may not show that the members 
of the corporation are not residents. of a different state from himself. 
That is to say, in order to obtain jurisdiction, the supreme court has 
forbidden the proof of a fact upon which jurisdiction under the con- 
stitution is made to depend. This arbitrary assumption, indulged in 
in order to obtain jurisdiction by the court, might be sufficient in 
the minds of some persons to suggest the measure of justice which 
might be expected in the subsequent proceedings of the trial. The 
direct result, of course, of this decision, was to transfer much litiga- 
tion from the state courts to the federal courts, an usurpation of 
power, which, it seems to me, as it has seemed to others, wholly 
unwarranted, and, up to the period of our history, of which we are 
now speaking, unprecedented. 

If the reader of this article is sufficiently interested as to the 
construction that should be placed upon the word "citizen," I 
may say that he will search in vain the acts of parliament and all 
legislative acts to find included within its meaning the idea or 
thought of a corporation. Peruse all the law books and arguments 
of counsel to the courts, and law dictionaries, and you will fail 
to find any such meaning attached to this word. Before this, as I 
have said, under the decisions of this court, it was incumbent to 
look behind the artificial existence of the corporation and ascer- 
tain who were the natural persons who actually composed it. A 
corporation is but an aggregation of natural persons, and it was 
never intended by the framers of the constitution that natural 
persons should be permitted to metamorphose their actual existence 
or residence into that of an artificial or ideal thing, and thereby 
obtain privileges beyond the limitations of the constitution, which, 
it ought to be assumed, was adopted for the purpose of securing 
exact justice. But the railroad corporation had appeared in court, 
and, exercising a seeming hypnotic power, the memories of the 
judges were paralyzed, the wisdom of their predecessors forgotten, 
and the spirit of the Declaration driven from their brains, and 
a legal decision too weak to command the respect of the lawyer 
because of its logic, or of the patriot because of its spirit, was the 
result. This increased immensely the jurisdiction and business 



208 THE SILVER SIDE— Campaign Text-Bock. 

of the federal court. It made additions thereto necessary and 
new courts had to be provided and additional judges appointed; 
the jurisdiction of the state courts was correspondingly usurped 
and abridged. It gave opportunity to persons living in one state 
to organize corporations in any other state where they could secure 
the greatest license and advantage to effect the most gigantic 
frauds. Citizens of a state, although intending to transact busi- 
ness at home, could organize corporations in another state and 
thereby largely transfer their litigation to the federal jurisdiction. 
I cannot go into the direful details necessary to set forth the re- 
sults of this decision and the outrages which have been perpetuated 
under it. The corporation became simply an irresponsible tramp, 
as numerous as the sands of the sea, possessing no heart or soul, 
though crowned with the badge of immortality. 

But I may call attention to a decision to which reference has 
already been made, not less deplorable, viewed from a legal stand- 
point, but more notorious because of the public discussion which 
followed its announcement. I refer to the decision which the 
sainted Lincoln denounced and one which was leveled against 
humanity itself, and one as brutal and inhuman as any edict issued 
by any tyrant of which we have record; one which found its reply 
at the hands of the people, with swords dripping blood of fellow 
men, amid the thrilling music of war, the rattle of musketry and 
the booming of cannon. 

Decisions of the Supreme Court Righteously Criticised. 

The result of the surrender of Lee to Grant in its greatest sig- 
nificance was the adoption of the fourteenth amendment to the 
constitution of the United States, a provision teeming with love 
for humanity, a declaration recognizing the wisdom of God, that 
he who is created by nature a man, shall be accorded the rights of 
a ma?i. The Dred Scott decision was a direct defiance of the law 
of Nature's God, and its repeal by the people was effected by the 
aid of that Divine Providence which guards and directs the foot^ 
steps of those who obey Him. 

I want the close attention of the reader to one of the provisions 
of the fourteenth amendment. In attempting to secure the civil 
rights of the African, it was provided by that amendment that no 
state should deprive any person of life, liberty or property without 
due process of law, or deny any person within its jurisdiction the 
equal protection of the laws. The purpose of this provision was 
to secure to those natural persons who were emancipated from 
slavery the rights of citizenship. There is not the slightest sug- 
gestion that it was intended to confer any additional rights upon 
other persons, the rights of whom were already protected by pro- 



THE SUPREME COURT. 209 

visions in the state constitutions, and especially it had no reference 
to artificial persons. It is astonishing to find in the decisions of 
the federal courts following the adoption of this amendment some 
of the constructions which have been placed upon it. The guiding 
rule of every court in construing a law or a constitutional provision 
is to arrive at the intention of the body which made the law, and 
when that intention is ascertained, to give effect to the purpose 
and intention of the law makers. But let us see the purpose for 
which this provision in the fourteenth amendment has been used, 
and witness the construction which has been out upon it by the 
federal judiciary. 

Now, as I have stated, the adoption of this amendment was 
intended to protect the emancipated slave, but the corporations, 
already having so successfully set at naught a portion of the con- 
stitution in broadening the jurisdiction of the federal courts, 
sought a construction of the word "person" in the fourteenth 
amendment. They claimed that this provision had reference to 
corporations and was enacted to protect them. It would hardly 
seem that a lawyer could be found with such ability of plausibility 
as to be capable of discussing such a proposition before the su- 
preme court of the United States. I have made research in hope 
of finding the argument that was presented, without any other 
result than that of discovering a statement preceding the report of 
a case in which the question was considered. This statement is a 
remarkable one, made by the chief justice, and I. quote it in full: 

The court does not wish to hear arguments on the question whether 
the provision in the fourteenth amendment to the constitution which forbids 
a state to deny to any person within its jurisdiction the equal protection of 
the laws, applies to corporations. We are all of the opinion that it does. 

A remarkable statement, which puts corporations in the cat- 
egory of the freedman, discards the whole purpose and intention of 
the amendment as shown by the amendment itself, and of facts 
that were within the perso?ial recollection of every member of the 
bench. The decision here reported makes corporations greater 
than the states which created them, and the authority for this is 
found in the provision of the constitution which was made to se- 
cure personal rights of those natural persons who had been recently 
emancipated from slavery, now, by palpable misconstruction, used 
by the supreme court for the purpose of stripping all of the citizens 
of rights and visiting hardships upon them, and unduly enlarging 
its own jurisdiction over matters foreign to the subject of the 
amendment. 

I do not wish to be understood as being in favor of depriving 
any corporation of its property without due process of law. Before 
this decision, or the enactment of the fourteenth amendment, a 



210 THE SILVER SIDE— Campaign Text-Book. 

corporation could not be deprived of its property without due 
process of law; but the vice of the decision lies in the fact of the 
misconstruction of the federal constitution, the transferring of 
jurisdiction to determine these questions from the state legislature 
and courts to the federal courts, the jurisdiction of which the 
corporations have always sought to enlarge. The people of this 
country never thought of such a purpose as connected with the 
Rebellion, and surely the fourteenth amendment was the result of 
the civil war. 

It has been left for this so-called infallible court, more than 
twenty years after peace was restored, to inform the veteran soldier 
that he fought, not for humanity nor in freedom's cause, but to mag- 
nify the power and increase the privileges of corporations; to se- 
cure, not the rights of natural persons, but of imaginary persons, 
immortal — only on earth! If the soldier sweat on the march, it 
may have been to liberate a being made in the image of God; but 
the arm torn asunder by the cannon ball was a sacrifice to dow?i- 
trodden corporations. The mother's tears were out of sympathy 
for human chattels, but her son's life was laid down to aid a soul- 
less thing! 

Who dares to assert that any of the states which agreed to the 
fourteenth amendment intended thereby such a surrender of its 
legislative and judicial jurisdictions? 

Corporations Have Been Unduly Favored. 

I will now call attention to the subject of charges made by 
corporations for public service. The power of regulating those 
charges which affect public interest has always been considered a 
legislative question, and while in the so-called Granger cases, de- 
cided in 1876, ten years prior to the construction referred to given 
to the fourteenth amendment, the supreme court of the United 
States declared that the fixing of rates or charges of corpora- 
tions was a legislative prerogative, and that it was not in the power 
of the framers of the fourteenth amendment to abridge this legis- 
lative right of the states; yet in about 1890, on a writ from the 
supreme court of Minnesota, the supreme court of the United 
States decided that this was not a legislative, but a judicial ques- 
tion, and held that a state could not limit charges of a public char- 
acter except by a judicial proceeding, in which the carrier had 
notice and an opportunity to be heard. The railroad company in 
this instance had notice, and had full opportunity to be heard, but 
the supreme court of the United States assumed jurisdiction of the 
case. The action of the supreme court in this instance was actually 
indefensible, and merely the exercise of that arbitrary power which 
it has assumed and is ever enlarging. The corporations have as- 
certained the weak point of attack in our governmental system. 



THE SUPREME COURT. 211 

They go to that co-ordinate branch which is least responsible to 
the people, and with a persistence keener than that of any deposed 
line of monarchs of Europe, wield their power, and are thereby 
getting hold of all the sources of control. These artificial, omni- 
present creatures are able to submit their causes in the federal 
court at any place within the jurisdiction of our great country. 
Without inconvenience they can go to trial either in New York, 
San Francisco, Chicago, or New Orleans. Natural persons, and 
especially the common citizen, to obtain redress, must be provided 
with a tribunal near his home. Mr. Justice Blackstone says in 
substance that nothing is more important concerning courts of 
the common people than accessibility. And yet the whole ten- 
dency, purpose and intent of these misconstructions of the consti- 
tution is to make redress of the private citizen impossible — an out- 
rageous violation of the terms and spirit of the constitution and of 
the common instincts of humanity. Cases are innumerable 
which might be cited which would more clearly emphasize the 
thought which I am trying to impress. 

But I am reminded that this article is to be brief and merely 
suggestive, and can only say in conclusion that it seems little wonder 
that we read of decisions and orders of the federal judges which pre- 
vent the enforcement of not only the civil but the criminal statutes 
of the states. Not long ago, in a case the report of which now lies 
before me, a federal judge enjoined the state officials, and all the 
people of the largest state in this Union, from enforcing a law 
enacted by the state legislature affecting the rates to be charged 
by a corporation transacting public business within its borders. 
Not only this, but the court enjoined the corporation (which, of 
course, was not averse thereto) from obeying the laws of that state. 
Injunctions to prevent laboring men from performing their labor, 
and, indeed, commanding free American citizens to perform labor, 
have made their appearance. 

In another case, where the provisions of the statute were to the 
effect that, if a corporation did not settle the damages resulting from 
its negligence- to property of a citizen within a given number of 
days, the corporation should be held to pay an attorney's fee 
to the plaintiff's attorney in a suit to recover damages, the case was 
carried to the supreme court of the United States by the corporation, 
and its contention that the law was unconstitutional was sustained. 
However, I may say that the bench was divided, and one of the 
dissenting judges remarked, in substance, that it was to be regret- 
ted that the proposition was not argued to that court by the plain- 
tiff's attorney. But, continuing, in substance said, that it could 
hardly be expected that a citizen who had paid the expense of carry- 
ing a suit through all the state courts could afford to engage coun- 



212 THE SILVER SIDE— Campaign Text-Book. 

sel to argue a question for the recovery of a ten dollar attorney's 
fee in the United States supreme court. 

I do not wish to be considered as aiming criticism at the 
members of the federal bench. It is the system that I oppose. 
Many able men have graced these tribunals ; men who, notwithstand- 
ing the life tenure, were able to withstand the aggressiveness of the 
corporations, and who have given expression in many instances to 
able and patriotic opinions — just as good monarchs sometimes ap- 
pear, but the proportion is the other way. 

Nor do I wish to be understood that all the decisions have been 
erroneous. But the percentage has been such as to suggest that 
the system is radically wrong, considering human nature as it is, 
and, if continued, that it will periodically bring disaster to the peo- 
ple, if, indeed, it will be possible at all to retain for many years a 
Republican government. The masses who are contending against 
the effects of these innovations, of these aggressions, upon the fed- 
eral constitution, are not opposed to law, but, on the other hand, 
are animated by a common impulse of absolute fealty to the prin- 
ciple of equality, fidelity to the provisions of the constitution — and 
are guided by the spirit of the Declaration of Independence. If 
they are mistaken, they are honestly mistaken. 

The legal tender decisions which were made directly in the inter- 
est of the creditor classes, and against the masses, is another illustra- 
tion of the abuse of power by the supreme court. These decisions 
were so preposterous and so plainly intended not only to favor the 
wealthy but to destroy the common people and cripple the govern- 
ment, as to be unendurable. The firmness of General Grant's 
nature, happily, at that time was where it could be squarely pitted 
against them, and they were by the president, aided by congress, 
promptly nullified by the reorganization of the court. 

It is a fact worthy of notice, that in all these important decisions 
there has been a divided court. Some of the judges have on each 
occasion contended loyally for the constitution; enough, however, 
have been able to take the view of the corporations — often a bare 
majority — but a majority is sufficient to make a decision, and, from 
a practical standpoint, I presume all that is necessary to satisfy the 
demands of the corporations. 

Nothing in recent years has created more consternation among 
the people than the decision nullifying the late income tax law. 
The people have seen corporations gaining wealth, power, and in- 
fluence; fortunes of millions acquired every day by intrigue and 
through corruption, while they have beheld those in the humbler 
walks of life daily shorn of their meager earnings and millions 
thrown out of employment. No law was ever enacted which the 
masses of the people believed to be freighted with more justice than 



THE SUPREME COURT. 213 

the recent income tax law. Repeatedly had all the legal objections 
which were urged against this law been overruled by the supreme 
court of the United States ; in all not less than fifteen cases gave as- 
surance to the people that the law would be held constitutional. 

When the case came to be heard before eight of the judges upon 
the constitutionality of the important provisions of the law, the 
judges stood four to four, the effect of which was to sustain the 
lower court which had upheld the law; but a rehearing was granted, 
and Justice Jackson, sick, approaching death, was summoned by his 
associates to Washington to cast his vote, by aid of which the ene- 
mies of the law no doubt hoped to obtain a majority of the judges 
against its validity. Justice Jackson's profound learning and true 
manhood well qualified him to determine the important question 
upon which the other judges found themselves stranded, and upon 
the decision of which the welfare of seventy millions of people hung. 
It was the will of Providence that he should go, and, leaving his bed, 
he made his way to Washington and into his place with the judges. 
Upon him depended all. Ready to go to the presence of his Maker, 
the pallor of death on his face, and all his hopes in eternity, he un- 
swervingly stood for the law and the constitution. How fitting that 
this great lawyer and jurist should have crowned his life work 
almost amidst the plaudits of angels! 

The right had won — not so! Behold one of the four judges, 
who had before voted to sustain the law, declares he had experi- 
enced a change of heart, changes his vote, thus creating a majority 
against the constitutionality of the law and giving a victory to 
money princes. 

Remarkable coincidence! Superb infallibility! The fickle 
moon, emblem of inconstancy, must yield to fate and blush for its 
slow coming phases. The people's Magna Charta torn in shreds, 
and taxation of men and not of property declared to be the law! 

Civil government, it has been said, can only be justified upon 
the ground that it is to afford protection to the weak against the 
strong; and yet, the burdens of government, says the supreme 
court of the United States, are to be apportioned on the basis of 
population. And such is the system under which the supreme 
court of the United States presumes that men equal by nature are 
to enjoy life, liberty and the pursuit of happiness. The protec- 
tion afforded private property by the people is accounted nothing. 
The life of a citizen may be put in peril and is at the command of 
the government to be laid down in its defense; but the property 
of the rich in excess of that of the poor is sacred, a?id is not avail- 
able even to save this government from destruction. Truly here 
we have a literal fulfillment of the prediction that "To him who 



214 THE SILVER SIDE— Campaign Text-Book. 

hath shall be given, but from him that hath not shall be taken 
away even that which he hath." 

Those who favor this decision do so because it tends to cen- 
tralize wealth; and, using the language of Abraham Lincoln with 
reference to the Dred Scott decision, because "it is part of the 
original combination for that object; it is the first of its kind; it 
is an astonisher in legal history; it is a new wonder of the world; 
it is based upon falsehood in the main as to the facts." And I 
may add that it is a violation of the spirit of the Declaration of In- 
dependence^ a libel upon the doctrine of the equality of man, and 
a direct defiance of the law of nature's God, and through the aid 
of a Divine Providence it will find its repeal. 

The life tenure of the federal judiciary should be taken away, 
and if these states are to be but dependencies, the national legis- 
lature, by a two-thirds vote, should be given the power to veto 
the decisions of the supreme court on all constitutional questions, 
this to the end that there may be some measure of sovereignty left 
with the people. But what is better, is to restore to the states again 
by amendment to the constitution that power which has been 
usurped by the federal courts. Make the offices of the federal 
judges in every instance elective and for a term of years; with 
this done, and the elective system, by direct vote of the people, 
applied to the senate, we would then have what the wisest of our 
forefathers believed to be machinery necessary for the existence 
and perpetuity of a republican form of government. 



CHAPTER XXVI. 



POSTAL SAVINGS BANKS. 



BY FRANK L. STRONG. 

The present trend of thought for the betterment of humanity 
lies pre-eminently along practical lines. Abstruse theories are of 
the past; the age demands action. "The poor ye have always with 
you" has too long been accepted as a basic law of nature, and a 
coin carelessly flung to a beggar will no longer be thought to 
satisfy the divine injunction to help the poor. 

To help the poor to help themselves; to provide work for all 
who desire to work; to encourage habits of saving by providing 
a safe place for such saving, and to insure its prompt return with a 
fair interest added, such is the need of the hour. 

With no disposition to cast undue discredit upon the present 
system of savings banks which, in spite of all their defects, have 
been of incalculable good to our people, we cannot lose sight of 
two facts : 

First. They are insufficient in number, and so located as not 
to best serve the masses of the people; and, 

Second. They have not, as a class, been so conducted as to 
inspire absolute confidence. 

Location of the Savings Banks. 

In the report of the comptroller of the currency for 1896, there 
are shown but 921 savings banks in the United States in 1890. In 
1892 they had increased to 1,059, an< ^ m l ^9^ dropped back to 
988. These banks are located as follows: 



EASTERN. 

Maine 55 

New Hampshire . . 72 

Vermont 31 

Massachusetts 177 

Rhode Island 38 

Connecticut 86 

Total 459 



MIDDLE. 

New York 124 

New Jersey 26 

Pennsylvania 13 

Delaware 2 

Maryland 23 

Dist. of Columbia.. 1 



Total 



.189 



WESTERN. 

Ohio 14 

Indiana 5 

Michigan 67 

Illinois 15 

Wisconsin 1 

Iowa 59 

Minnesota 8 

Missouri 

Kansas 



Total 



215 



.169 



216 THE SILVER SIDE— Campaign Text Book. 

SOUTHERN. PACIFIC, ETC. RECAPITULATION. 

Virginia Montana i Eastern 459 

West Virginia 2 Wyoming Middle 189 

North Carolina .... 4 Colorado Western 169 

South Carolina 13 New Mexico 1 Southern 44 

Georgia 12 Arizona Pacific ... 60 

Florida 2 Utah 7 ' '1 

Alabama Nevada Total 921 

Louisiana 1 Idaho 

Texas Washington 6 

Tennessee 10 Oregon 

Kentucky . .• North Dakota 

Arkansas South Dakota 

Nebraska 8 

Total 44 California 37 

Total 60 

In the report of the postmaster general for the year 1892 is 
given the average distance from all post offices to the nearest savings 
banks in the various states, grouped as follows, viz. : 

Eastern 10 miles 

Middle 25 miles 

Western 26 miles 

Southern 33 miles 

Pacific 52 miles 

The effect is apparent. The six New England states, with 459 
banks, had, in 1894, depositors to the number of 2,096,653, with 
$754,861,622 to their credit, while the six great northwestern states, 
Ohio, Indiana, Illinois, Wisconsin, Iowa and Minnesota had but 
287,411 depositors with deposits of $88,776,230. Comment is un- 
necessary. Aside from a few eastern and middle states, the banks 
are too few and too widely scattered to meet the requirements of the 
people. 

Instability of Private Savings Banks, 

While a few states have excellent laws governing savings banks, 
many others have either none at all or very inadequate ones. Com- 
pare the national banks, which are under the scrutiny of the gov- 
ernment to a certain extent, with private ones. During the six- 
teen years from 1863 to 1879 only eighty-one of the thousands of 
national banks became insolvent, the total loss being $6,240,189. 
In the single year 1841, fifty-five banks not under government sur- 
veillance failed with capital of over $67,000,000, and in nearly every 
instance the capital was lost. The entire amount lost by the eighty- 
one national banks during the sixteen years above mentioned was 
more than equaled by the loss occasioned by three or four private 
banks. 

Three out of every eight of the savings banks of Maine sus- 



POSTAL SAVINGS BANKS. 217 

pended between the years 1872 and 1879. During the single year 
ending June 30, 1891, one hundred and seventeen banks, brokers, 
savings banks and trust companies failed, having liabilities in ex- 
cess of assets of over $18,000,000. During the three years, 1888, 
1889 and 1890, two hundred and ten state and private banks, lo- 
cated in twenty-three states, failed, with losses of over $32,000,000. 
In a single year the losses in such banks in Ohio were $2,000,000, 
and in Illinois, $6,000,000! 

Hon. S. C. Fairchild, assistant secretary of the treasury under 
President Harrison, said that while attorney general of New York 
he was compelled to wind up the affairs of twenty-two savings 
banks, with a loss to the depositors of $4,000,000. He became con- 
vinced that the professed guardianship by the state over these 
banks amounts to nothing. The depositors were really without pro- 
tection against the dishonesty of the bank officials. 

But the loss of the savings is more than a monetary calamity. 
The moral effect, the feeling of injustice, of helplessness against 
frauds, and a resolve to spend the wage as fast as received, and 
to "get the good out of it," is the far more weighty evil. Mr. 
Gladstone well said in i860, in speaking of the frightful losses sus- 
tained by the common people by the failure of English banks: "The 
evil is not to be measured by the actual amount of money loss; there 
is an amount of evil such as figures convey no idea of." 

Hoarding Dangerous* 

Inaccessible and unstable banks are the prime cause of hoard- 
ing. Many attempts have been made to estimate the amounts so 
withdrawn from circulation, and while, from the nature of the 
case, no accurate figures are possible, good authorities have stated 
from $800,000,000 to $1,000,000,000 as a not impossible sum. 

In the Journal of the Statistical Society, of London, for 1861, 
Edward Chadwick, C. B., of the police commission of inquiry, gives 
the result of the commission's investigation of crime. They found 
in England a large proportion of burglaries and murders, especially 
of old people, were on account of known or suspected hoards of 
money. They also found a large proportion of thefts by household 
servants due to the same practice of hoarding. But in Scotland, 
where savings banks were accessible and commonly used, the 
commissioners found such crimes far less frequent. 

The enormous growth of safety deposit vaults in the cities dur- 
ing the past few years attest to a preference on the part of many 
to seek a safe place for their savings, even without interest, rather 
than risk loss in the banks. But safety deposit vaults are beyond 
the reach of the masses, and so, year after year, the proverbial "old 
stocking" continues to keep millions of dollars out of circulation, 



218 THE SILVER SIDE— Campaign Text-Book. 

without interest and with the dangers of theft and fire continually 
harassing the owners' minds. 

History of English Savings Banks. 

England is the pioneer nation in providing savings banks for the 
common people. The Frugality bank, established by Jeremy Ben- 
tham, just one hundred years ago, was the first attempt. Others 
followed, but, like Bentham's, on a philanthropic basis, with no 
expectation of profit. The system rapidly developed and banks for 
profit were -soon opened, there being in 1817 no less than seventy 
in England alone. 

The Edinburgh Review in 1818 says of the new movement: "The 
spread of the savings banks is of far more importance and far 
more likely to increase the greatness of the nation than the most 
brilliant success of its arms, or the most stupendous improvements 
of its trades or agriculture." 

In 1807, a Mr. Whitehead introduced a measure into parliament 
to connect the savings banks with the government, but it failed to 
pass. No better commentary can be made upon the bitter opposition 
which history shows the "better classes" have, with rare excep- 
tions, always shown to even the most praiseworthy attempts to 
elevate the masses than the fact that bill after bill for a govern- 
ment savings bank was introduced and voted down in parliament 
for more than fifty years from that date before one was finally 
accepted in 1861. 

Parliament first recognized the savings banks August 17, 1817, 
by an act making trustees personally responsible for any defaults, 
and prohibiting them from receiving any remuneration for their 
services. But, by the acts of 1824 and 1828, the trustees were 
relieved from all liability. It had been customary to invest a por- 
tion of the savings bank funds with the national debt commissioners 
and for such funds the government stood responsible. The public, 
however, was deluded into the belief that the government was re- 
sponsible for the entire deposits placed with the banks.. From 
1845 to J 857 an era of savings banks failures occurred; the deposit- 
ors awoke to the fact that in place of the nation, they had been 
trusting directors that had been made irresponsible by law. 

English Postal Savings Banks. 

Public attention was finally aroused and demanded action. A 
postal savings bank was urged, and, in 1858, a committee from the 
house of commons was appointed to investigate. Disappointment 
was again in store, for this highly respectable and learned commit- 
tee reported, in their wisdom, adversely upon the measure. It was 
too late, however, for stupid conservatism and fear of government 



POSTAL SAVINGS BANKS. 



219 



competition with the existing savings banks to stay the demand 
of the people, and in i860, Mr. Gladstone introduced a bill which, 
with some modifications, became law May 17, 1861. 

The London Times said editorially in support of the measure: 

The country will recognize at once the universal boon of a bank main- 
tained at the public expense, secured by the public responsibility, with the 
whole empire for its capital; with a branch in every town; open at all 
hours; more ; than all, giving a fair rate of interest. 

Sir Robert Peel declared that the new bill was so good a measure 
that he wondered that it had ever passed. 

On September 16, 1861, the post office savings banks were open 
to depositors, and on that day 431 deposits were received. At the 
end of the following year, 2,535 offices were open, and nearly £2,- 
000,000 had accumulated, and in ten years it had increased to 
£19,000,000. There are now more than 11,000 post orifices in the 
United Kingdom open for receipts and repayments, the hours being 
from nine in the morning until six, and, on Saturdays, until nine 
in the evening. 

As the English system has been in successful operation for 
nearly thirty-six years, and as all other nations have, to a large ex- 
tent, modeled their systems after it, some of the details of its work- 
ing will be of interest. The following figures are taken from the 
last report of the postmaster general of the United Kingdom, issued 
August, 1896, and covering the business for the year ending March 
31, 1896, together with summaries of the work of previous years: 

POST OFFICE SAVINGS BANK, UNITED KINGDOM. 

TABLE SHOWING THE BUSINESS DONE DURING THE LAST TEN YEARS. 



Number 


Number 


of savings 


of 


banks. 


deposits. 


8,351 


6,562,395 


8,720 


6.916,327 


9,022 


7,540,625 


9,353 


8,101.120 


9,681 


8,776,566 


10,063 


8,941.431 


10,519 


9.478.339 


11,018 


9,838,198 


11,323 


10.973,651 


11,518 


11.384.y77 



Due depositors 

at 
close of year. 





Average 


Interest 


cost 


credited to 


of each 


depositors. 


transact'n. 


£ 


d 


1,169,500 


7-8/10 


1,244,074 


7-3/10 


1,332.838 


7-7/10 


1,443,186 


7-4/10 


1,553,355 


6 7 10 


1,658.148 


6-8 10 


1,746,263 


6-6 10 


1,860.104 


6-5 10 


2,015.903 


6-7/10 


2,222,545 


6-4/10 



Number of ac- 
counts open at 
close of year. 



1887.. 
18a8.. 
1889.. 
1890.. 
1891 . . 
1892 . . 
1893.. 
1894.. 
1895.. 



£ 
50,871,338 
53,974,065 
58,w6,394 
62,9y9,ti20 
67,634,807 
71,608,002 
75,853,079 
80,597,641 
89,266,066 
97,868,975 



3,731,421 
3,951,761 
4,220,927 
4,507,809 
4,827,314 
5,118,395 
5,452.316 
5,748,239 
6.108,763 
6,453,597 



The average cost of each transaction is unduly increased by 
the charge of the cost of purchased land and buildings being added 
to the account. Without such addition the cost in the year 1895 
would have been 6d instead of the 6 4-iod shown. 

The daily average of deposits made throughout the year ending 
March 31, 1896, was 37.084, and the average amount deposited 



220 THE SILVER SIDE— Campaign Text-Book. 

daily was £104,490 ($508,886). We can scarcely realize what this 
stupendous business means, for these are not the transactions of 
great business houses, but of the savings of the common people. 

We see from the above table that during the past ten years 
the number of depositors and the amount due them has almost 
doubled, and that at the close of the year 1895 there were 6,453,597 
people in Great Britain, largely of the middle and lower classes, 
who had £97,868,975 ($476,621,908) laid away against the day of 
need, with the wealth of the British government as security. About 
one person in seven in England and Wales is carrying funds in 
these banks. 

The English System* 

A person desiring to open an account is furnished with a blank 
form of declaration and a pass book, to which the depositor affixes 
his signature. A person can become a depositor without going 
to a postoffice, by signing the declaration in the presence of any 
one known at the office. Deposits may be made by the following 
parties: 

1. Persons of full age and not under legal disability. 

2. Married women. 

3. Children seven years old and upward. 

4. On behalf and in the names of children under seven years 
old. Money so deposited is not repaid until the children attain 
that age. 

5. On behalf of insane persons by the committees of their es- 
tates. 

6. By two or more persons jointly. 

7. By one person as trustee for another. 

8. By a duly registered Friendly Society. 

9. By an industrial or provident society. 

10. By a penny bank or similar institution. 

11. By vicars and rectors of parishes for church uses. 

12. In the name of the registrar of the county court. 

The original act limiting the extreme annual deposit to £30 
was amended December 31, 1893, raising the amount to £50. The 
limit of individual deposits is £200; amounts in excess of that sum 
are required to be invested in government stocks. The total 
amount so purchased by the savings bank for the depositor cannot 
exceed £500 at one time. If it does he is notified to reduce the 
amount by sale, or to transfer it to the Bank of England. 

A person may deposit or withdraw money at any time at any 
one of the 11,000 offices of the kingdom. If in urgent need of 
money he may withdraw by telegraph £10 on the day of applica- 
tion and £20 on the following day, provided he pays for the neces- 
sary telegrams. As all accounts are kept in London, all requests 



POSTAL SAVINGS BANKS. 



221 



for withdrawals are sent there, but when the telegraph is used the 
time is remarkably brief, the average delay between application 
and payment being thirty-eight minutes for London applications 
and less than one hour for any other part of the kingdom. The ad- 
vantages of this prompt system to persons traveling, and in cases 
of emergency are obvious. 

Interest is paid on a single pound and multiples thereof, at 
the rate of 2\ per cent, per annum, beginning with the first of the 
month following deposit, and ceasing the last of the month pre- 
ceding withdrawal. On December 31st of each year the interest is 
added to the principal. No sum less than one shilling will be 
accepted at the bank. To meet the important requisite of saving 
in trivial amounts, the plan provides for 

The Card System of Deposits. 
As an attempt to put in practice the adage, 'Take care of the 
pence and the pounds will take care of themselves," the card sys- 
tem stands unrivaled. A slip of paper sufficiently large to con- 
tain twelve postage stamps is furnished free to all. The following 
is a facsimile, the full size being 8f by 3§ inches: 

Postage Stamps for a Deposit of One Shilling in the Post Office Savings Bank. 
12 Penny Stamps to be affixed below. 















Depositor's Book. 
Office of Issno 


No. of Rook 
















Dated Stamp of 
Post Office receiv- 
i ng the Postage 
Stamps. 





When twelve penny stamps have been affixed to the card it 
may be taken to any postoffice bank and a credit of one shilling 
will be given. The success of the card system in teaching school 
children habits of thrift has been quite remarkable. Quoting again 
from the last report of the postmaster general, there were at the 
close of the year 1895 out of the 20,000 elementary schools in 
England and Wales 8,668 using the penny banks. To aid the 
teachers in this work it is customary to detail a clerk from the 
nearest postoffice to go to the schools at appointed times and take 
charge of the system. 

When the card system was introduced, Postmaster General 



222 THE SILVER SIDE— Campaign Text-Book. 

Fawcett stated in his report that during the first month 58,000 
new accounts with the postoffice were opened. The cards furnish 
admirable opportunities for benevolent lessons in thrift. In 1889, 
at the annual distribution of prizes at the Ragged School Union, 
335 scholars received deposit books showing that five shillings had 
been credited to each in the postal bank. 

It does not seem to have occurred to these thoughtless English- 
men that, in training up the millions of children in their public 
schools to be proud of the fact that they have a bank account with 
the nation they are ignoring that mythical demon, "paternal gov- 
ernment," whose very name causes so many good people in this 
country to tremble. 

Annuities and Life Insurance. 

Annuities (pensions for old age) may also be purchased in con- 
nection with the postal banks, in sums of not less than £1 or more 
than £100 on the life of any one person over five years of age. 
For example: A woman of twenty-four may pay in one sum £5 
4s 1 id, or pay 4s 4d per year until sixty, and then receive a pen- 
sion of £1 per year until death. The insurance upon a man's life 
is somewhat less, as a man of twenty-four is required to pay in a 
single sum only £3 19s iod, and the same annual sum as the 
woman, if he prefers, and his pension of £1 will commence at the 
age of fifty-four. 

The lives of either sex between fourteen and sixty-five may be 
insured for any amount not less than £5 nor more than £100. Chil- 
dren between eight and fourteen may be insured for £5. The pre- 
mium for insurance varies, of course, with the age of the insured. 
A man or woman between twenty-one and twenty-two, for example, 
may be insured for £10 by an annual payment through life of 4s. 4d., 
annual payments until sixty of 4s. 8d., or a single payment of £4 4s. 
Persons may commence with either annuities or life insurance at £1 
and increase the same from time to time until the £100 limit is 
reached. 

Effect on Private Savings Banks. 

The opposition to postal savings banks arose largely from the 
owners of private banks, but experience shows their fears were in 
the main groundless. The private banks deal with another class 
of customers, those who have larger amounts to invest. The fact 
that the government banks pay one-half per cent, less than private 
ones is a sufficient reason to induce the larger depositors to patron- 
ize the latter, and the more so for the reason that since the abso- 
lutely secure government banks were established the private banks 
have been forced to more carefully secure their depositors than 
formerly. That the private banks have prospered is shown by the 



POSTAL SAVINGS BANKS. 223 

statement that after a lapse of fifteen years from the inauguration 
of the postal banks the private banks had increased their capital 
stock $10,000,000. 

The postal bank is for the middle and lower classes, and for 
children, and such transactions are seldom desired by private banks. 

The London Times in discussing the proposed measure in 1861, 
said: 

It will be found by referring to the books of the private savings banks 
that nine-tenths of the depositors are mercantile and law clerks, governesses, 
butlers, and upper servants, house maids, cooks, etc., whose daily wants are 
provided for them, and who are relieved from the nature of their avoca- 
tions, from the temptation to spend their money. 

In many cases the private banks are gainers by the new system, 
as many thrifty depositors whose savings pass beyond the govern- 
ment limit transfer them to the private banks. 

France. 

Petitions for government savings banks were repeatedly made 
in France for many years, but the only result obtained was an act 
passed in 1863 authorizing postmasters to aid depositors in forward- 
ing funds to private savings banks. Finally the persistent efforts 
of the friends of the cause were successful, and on January I, 1882, 
the postal bank system commenced operations through 7,000 post- 
offices in France and Algiers. 

As in England, the plan immediately became popular, and de- 
positors and deposits steadily increased until the financial panic of 
1893, during which year the amount due depositors decreased 21,- 
000,000 francs ($4,200,000), owing largely to the spreading of false 
reports. The next year, however, the deficit was made up and 
50,000,000 francs ($10,000,000) in addition stood to the credit of the 
depositors. 

M. Perrier, minister of posts and telegraph under President 
Carnot, says in his report for the year ending December 31, 1893: 

I look with confidence on our postal savings banks. The results ob- 
tained in this epoch justify their establishment, even surpassing the attain- 
ments of the past. 

On January 1, 1893, the number of depositors was 1,973,673, and 
on September 1, 1894, the number was 2,224,813, an increase of 
251,140 in twenty months. Of this vast number of two and a quar- 
ter million depositors, more than two-thirds had less than 200 francs 
($40) to their credit, showing that the banks were freely used by 
people of limited means. 

Communes where there are no post offices are visited at least 
once a day by letter carriers, who are authorized to receive deposits. 



224 THE SILVER SIDE— Campaign Text-Book. 

In 1891 the French director of posts and telegraphs wrote our Post- 
master General Wanamaker that there was not a hamlet in France 
where savings could not be collected. He also states that no opposi- 
tion was met with from private banks, as the two serve a different 
class of customers. 

No sum less than one franc (20 cents) is received, and 2,000 
francs ($400) is the limit. Cards bearing the value of one franc in 
postage stamps are credited, as in the English system. The rate 
of interest is three per cent. An arrangement made in 1882 permits 
citizens of France to transfer their accounts to Belgium postoffice 
banks, and vice versa, when desired. 

Depositors' money is invested in government securities, bought 
in accordance with the daily quotations. The cost of management 
has decreased since 1882 from about three-quarters of one per cent, 
of the balance due depositors to one-half of one per cent, in 1893. 
As is the case with all countries using the postal bank, the differ- 
ence between the interest paid depositors and the interest received 
by the government for the use of the money is sufficient to pay all 
the expenses of the system, and in many cases to leave a balance 
in excess. 

Other European Countries. 

With the exception of Germany, which is well supplied with 
municipal savings banks so admirably conducted as not to have felt 
the pressing needs of postal banks, there is not a single great power 
of Europe that has not adopted the new system, and not one which 
does not endorse it as an unqualified success. All are, in general, 
modeled after the English, and need no detailed description of the 
main plan, but a few of the special provisions are worthy of note. 

Austria has a regular check system in connection with the postal 
savings bank, offering the same conveniences as any common bank 
of deposit. To be entitled to use the check system a person must 
keep a permanent deposit in the bank of not less than 100 gulden 
($40), and pay a trifling amount for a check book and blank re- 
ceipts. No limit is placed upon the amount deposited, but no single 
check can be drawn for more than 10,000 gulden ($4,000). 

Hungary introduced postal savings banks in 1886. During the 
first year it paid only 13.9 of the expenses. In 1890 it paid 80.4, 
and in 1894 it not only paid all expenses but returned all the amounts 
the postoffice department had loaned it during previous years. 

Belgium depositors must sign a statement that they possess a 
sufficient amount of knowledge regarding the laws and regulations. 
In addition to investing the deposits in government funds, the bank 
is authorized to make loans to private individuals. No loans are 
made for less than 200 francs ($40), and on not longer time than 



POSTAL SAVINGS BANKS. 225 

sixteen months. They can be renewed if conditions are satisfactory. 
No guarantee from the borrower is required, but he must prove his 
solvency. 

Sweden shows good results by the fact that after ten years of 
trial one person in eight in the kingdom has a pass book. The 
deposits are invested in bonds issued by the government, municipal 
bonds of various cities in the country, and in direct loans to the 
municipalities. 

Italy has attempted to solve the problem of investing the funds 
received from depositors outside of the government securities. The 
government stands between the people and a deposit and loan bank. 
The postoffice issues the deposit books to the people, receiving their 
money and returning it upon demand, keeping an individual ac- 
count with each depositor. The deposit and loan bank receives 
the funds from the postoffice, and under provision of the law invests 
it in loans to provinces and communes, and in fundable bonds, and 
in account current with the treasury itself. At the end of each five 
years a portion of the large profits accumulated by the deposit and 
loan bank is divided among the depositors. 

The minister of posts and telegraphs in 1892 wrote Postmaster 
General Wanamaker in much the same tenor as the French official 
previously quoted, that the apprehensions felt in the outset that 
the postal savings bank might injure the private institutions soon 
vanished, as it soon became apparent that the two kinds of institu- 
tions had different classes of customers, and did not interfere with 
each other. 

The dates of adoption of the postal savings banks in the various 
countries is as follows:, 

Great Britain 1861 Sweden 1884 

Belgium 1865 Hungary 1886 

Austria 1868 Netherlands 1886 

Italy 1875 Finland 1886 

Japan 1875 Russia ..1889 

France 1881 

English Colonies and Elsewhere. 

There is scarcely an English colony that has not followed closely 
the system of the home government. South Australia, Queens- 
land, New Zealand, Ceylon, Cape of Good Hope, British Guiana 
also the Hawaiian republic have adopted the system within the past 
ten years. In the latter country, with its limited population, where 
the postal savings banks were opened in 1886, during the first three 
years there were 2,641 depositors, to whom $885,960 were due. 
These funds were employed in public improvements. 



226 THE SILVER SIDE— Campaign Text-Book. 

Canada* 

The successful working of the system at our very borders for 
nearly thirty years deserves a passing notice. On April i, 1868, the 
first banks were opened, and at the end of fifteen months eighty-one 
offices showed the amount due depositors, $856,814. On June 30, 
1889, there were 113,123 depositors, with a credit of $22,413,123. 

Inquiries in 1885 showed farmers' deposits stood highest on the 
list, being one-third of the whole, and next highest were married 
women, one-fifth of the whole. The report of June 30, 1895, shows 
720 postoffices doing a savings bank business, and $42,165,357 due 
depositors. Postmasters are forbidden under pain of dismissal to 
disclose the name of any depositor, amount of deposit, or withdrawal. 
It is stated that the labor and expense incident to carrying on the 
business of the postal savings banks has not added more than five 
per cent, to that required for the regular mail service. 

United States. 

We have seen, commencing with England 36 years ago, the 
foremost nations of the earth adopting the postal savings bank. 
In not a single case has the plan been abandoned; in every case 
the growth has been rapid from year to year, and from every 
nation using it enthusiastic praises are heard. 

Lewins, in his "History of Savings Banks," says of the postal 
savings banks of Great Britain: 

Next, perhaps to the repeal of the corn law, this is the greatest boon 
ever conferred on the working classes of the country; and next to the 
scheme of penny postage itself the scheme of postoffice banks is the great- 
est and most important work ever undertaken by the government for the 
benefit of the nation. * * * The success of the postoffice bank has been 
of the most complete kind. 

With vast areas, in some cases amounting to whole states, 
without a savings bank of any description; with other sections 
where private savings banks exist under state laws so loosely 
drawn as to put a premium upon dishonesty; with wisely drawn 
state laws the exception and not the rule, why has the object les- 
son presented by the other nations been lost upon us? 

Surely not because we are not a thrifty nation. We quote 
from the last "Statistical Abstract of the United States," page 57, 
giving the report of savings banks by the comptroller of the cur- 
rency. It is the report for the year 1896, perhaps as disastrous 
a year, from a financial point, as the country has ever known. 



POSTAL SAVINGS BANKS. 227 

Average 

Number of Amount of for each 

States. depositors. deposits. depositor. 

Eastern 2,210,430 $802,923,950 $351-87 

Middle 2,294,179 855,402,431 372.86 

Southern 52,178 9,008,852 172.66 

Western 321,805 104,066,129 323.38 

Pacific & Territories 186,902 135,754,915 726.34 

Total 5,065,494 $1,907,156,277 $376-5o 

Compare the report from these six New England states with that of 
the seven western states, Ohio, Indiana, Illinois, Wisconsin, Iowa, Minne- 
sota and Michigan ■ 

Population 
States. Depositors. Amount. in 1890. 

Eastern 2,210,430 $802,923,950 4,700,745 

Western 321,805 104,066,129 16,685,562 

It will be claimed by no one that these seven western states, 
with almost four times the population of the six New England 
states, should not, with proper banking facilities, make as good a 
showing as the others. That showing would be over $2,850,000,000 
savings for the seven western states alone, or considerably more 
than one-third in excess of the total savings for the whole United 
States. 

It is not claimed that these figures show that if the postal sav- 
ings banks were established these vast sums would all flow to 
them. It has been clearly shown, from the experience of other 
nations, that there would be no conflict between the private and 
the postal banks. But surely, in the absence of private banks, as 
in the states shown, those of the government should be established. 
The figures do not show that the people of the west are not laying 
up their savings through other channels, such as the building and 
loan societies, which, did they come within the scope of this paper, 
might easily be shown to be under as loose state surveillance as 
the savings banks, and even less worthy of trust in the majority 
of cases. 

The Problem. 

The nations of the old world are in debt, many of them hope- 
lessly so, and they never expect to be free from the load. What 
better way than to have that debt owed to the people of the nation, 
and let the interest remain at home? And so the postal savings 
banks easily and naturally provide a way of investing the savings 
of the people, alike helpful to them and to the government. 

In the United States, freed from the necessity of a vast stand- 
ing army and an immense navy; with boundless natural resources; 
a nation of inventors, a people of restless energy and money making 



228 THE SILVER SIDE— Campaign Text-Book. 

proclivities, the policy has ever been to keep out of national in- 
debtedness. The enormous war debt which was, until a few years 
ago, reduced so rapidly as to excite the astonishment of the world, 
is now small compared with other great nations, and will doubt- 
less, ere many years, be extinguished. 

Where then shall we find a safe investment for the people's 
money, where a fair rate of interest can be earned and paid to 
depositors. For this interest must be earned. The wild scheme 
advocated by some that the general government through taxation 
of all should make provision for payment of interest to depositors 
in postal savings banks will never be considered. 

History of the Movement in the United States. 

To Postmaster General Cresswell, during Grant's administra- 
tion, belongs the credit of the first official attempt to introduce the 
postal savings banks. In 1871 he strenuously urged the measure, 
and still more strongly emphasized it during the panic of 1873, 
which he believed would have been greatly lessened had the sys- 
tem been in vogue. 

Postmaster General Maynard in 1880 again took up the subject, 
urging congress to act. His successor, Thos. L. James, in his 
annual report, published in 1881, said: 

It is my earnest conviction that a system of this description, if adopted, 
would inure, more than almost any other measure of public importance, to 
the benefit of the working people of the United States. 

Postmaster General Howe in 1882 again called attention to 
the matter, and in the same year Chairman Lacy, of the committee 
on postoffices and post roads, introduced a bill into congress for 
the establishment of postal savings banks. This bill was heartily 
indorsed by the State's Charity Aid Association of New York, and 
by many others. 

The most persistent and carefully prepared work by any of 
the postoffice officials was that of Postmaster General Wanamaker. 
Those interested in following this subject beyond the limits of this 
paper will find his views in full in his report to the senate (see 
report of the List congress, second session, senate miscellaneous 
documents.) His solution of the investment problem is that all 
moneys deposited should be placed in the care of the secretary 
of the treasury, a separate account kept with each state, and the 
amounts invested in securities of the national banks of the state 
from which they were received. The people's money, he says, 
would come from its hiding place, and be at once put into circula- 
tion through the banks in their own state. He also suggested that 
depositors' money be used to erect postoffices all over the country, 
as well as other public buildings. 



POSTAL SAVINGS BANKS. 229 

Prior to January I, 1896, seventeen different bills have been 
introduced in congress looking to the establishment of postal sav- 
ings banks. In many cases these bills have been killed by attach- 
ing other measures to them, such as postal telegraphs, postal pack- 
age express, etc. 

The Present Situation. 

Congress will shortly be called upon to consider new bills now 
pending for postal savings banks. Public interest is being aroused 
through many leading newspapers, and it is to be hoped that be- 
fore long the people of the United States will be enjoying this 
boon, together with the other nations of the earth. 

There certainly should be found among the millions of state, 
municipal and other bonds of this country, so eagerly sought for 
abroad, a sufficient amount in which the government could safely 
invest the people's money whenever its own securities shall no 
longer be available. What Italy has done we should be able also 
to do. These questions, however, are financial ones, and must be 
passed upon by those competent to deal with them. Let the peo- 
ple decide that they will have the postal savings bank, and the 
details of their operation will be speedily forthcoming. 

As was said at the outset, the times demand action and not 
theory. The People's party, at its convention held at St. Louis 
July 24, 1896, reiterated its former declarations in favor of postal 
savings banks by embodying the following demand in its platform: 

We demand that postal savings banks be established by the govern- 
ment for the safe deposit of the savings of the people, and to facilitate 
exchange. 

We are grateful that one political party has set its face in the 
right direction, and that public attention is thereby called to the 
subject. But it is not in any sense a political matter. It is a 
move for the betterment of those of every political faith, and every 
effort should be concentrated to push the measure, freed from all 
entangling political riders, to a successful termination. 



The " Cosmopolitan " magazine for March, 1897, contains an 
article by its gifted editor, John Brisben Walker, entitled, " The 
First Essentials for Prosperity," in which a new banking system 
is presented. He says: " I have discussed the postal savings 
bank system with many bankers, and have never found positive 
objection from those who would take the trouble to go carefully 
and disinterestedly into its provisions. Last winter, three weeks 
spent in Washington were largely consumed in engagements with 
the more prominent men in the senate and house of representa 
tives going over the postal savings bank bond. I do not recall 
an instance where there was shown decided opposition. On the 



230 THE SILVER SIDE— Campaign Text-Book. 

contrary, the idea seemed to be already favored by numbers of 
the ablest men in both houses, and when the proposition was 
submitted to new ears, it seemed to bring immediate adhesion. 
On every side it was said to me that the New York banker con- 
trolled the situation in Congress, or at least had power to prevent 
new legislation. ' If you will go back to New York and bring 
with you,' they said ' the approval of the leading bankers of that 
city, this measure can be put through in the shortest possible 
space of time.' " 

Mr. Walker, in explanation of the bond system to which the 
above extract refers, says: "The system here proposed has never 
been tried in its entirety, but under the name of postal savings 
banks it has received in Great Britain, in Sweden and in Austro- 
Hungary preliminary tests which go far towards establishing the 
safety of its fundamental principles." 

We are not interested in this paper in Mr. Walker's bond 
proposition, however worthy it may be, but the vital point in the 
above extract is that no legislation such as we have shown other 
countries to be enjoying under the postal savings bank system 
can be obtained in this country without the consent of Wall 
street. We hope this statement may be found to be overdrawn, 
but if that is the cause of our repeated failures it is well to be 
advised of the fact. 



CHAPTER XXVII. 

PATRIOTS VS. POLITICIANS. 

BY MINNIE F. MURRAY. 

The American people are today standing upon a precipice of 
governmental error, scanning the horizon of the future. The sunset 
shadows of the passing century are painting their varied hues upon 
the landscape, and as the setting of the sun foretells the dawn of the 
coming day, so shall the sunset of this century foretell the dawn- 
ing of the one to follow. 

The test which shall decide the future greatness of the Ameri- 
can people is yet to be applied. They have yet to meet and suc- 
cessfully combat the tendency of concentrated wealth to absorb 
the rich resources of the nation, and reduce the laboring classes 
to a condition akin to foreign peasantry. To subdue selfishness 
and avarice and cultivate in their places a love of justice and 
equality is a task worthy of the efforts of America's greatest states- 
men, and the co-operation and assistance of every patriotic citizen. 

The selfishness of man, unchecked by the restraining hand of 
law, has drawn the curtain of oblivion about some of the greatest 
governments that history records, and the spirit which wrought 
such ruin in the past is today the greatest menace that threatens 
the future of this nation. 

The business depression of the past four years has turned the 
keen eye of an inquiring public upon the affairs of government and 
the startling revelations which confront them there have forced 
upon the minds of thinking men and women the necessity of each 
individual of our republic assuming a deeper interest in the affairs 
of the nation and in the needs of the country than simply the cast- 
ing of a ballot on election day. To the people alone belongs the 
sovereign right in these United States, and in their hands rests 
the power to crush out of existence any evil that threatens their 
prosperity and happiness. 

Indifference to Public Affairs Dangerous. 
Indifference to legislation and the duties of legislators on the 
part of the people is resulting in dishonesty on the part of those 
in whom they have reposed confidence, and whose honesty and in- 
tegrity they expect to be exercised in their behalf. The result is 
that personal interests possess the men who are sent to represent 

231 



232 THE SILVER SIDE— Campaign Text-Book. 

the people, and they become the servants of men who seek to 
profit by class legislation, and gradually the power to govern this 
country will pass out of the control of the people and into that 
of the wealth possessors who will dictate the terms of govern- 
ment, and an unhappy, discontented and rebellious people will 
struggle in vain to regain the rights which their indifference and 
false fealty lost to them; rights which they now enjoy, but prize 
too lightly. 

The greatness of any nation lies in its power to so regulate its 
affairs that each and every one of its citizens shall have opportun- 
ity to avail himself or herself of a just measure of its resources 
which the bounteousness of nature and the genius of man provides 
from year to year. When trusts, combines, syndicates and mo- 
nopolies are permitted to absorb and control these resources the 
rights of the people are usurped, and their only recourse lies in 
an intelligent understanding of their needs and a united demand for 
proper legislation. 

The Patriotism of Peace and "War, 

America has many times been forced to stand the test of war, 
and history fails to find a parallel of such heroic loyalty, but there 
is a patriotism that is grander, a loyalty more sublime. It is the 
unselfish devotion of men to the true principles of a free govern- 
ment in times of peace. Uninfluenced by the mad music of war, 
removed from the thrilling scenes of battle where the roar of the 
cannon and the rattle of the musketry make even cowards brave, 
there is a grand nobility in men which makes them truly great who 
place the welfare of their country first, and scorn all proffered honor, 
wealth or fame when purchased at their country's cost. A sense 
of duty makes men patriots in war, but a love of justice makes men 
patriots in peace. 

A broader knowledge of true statesmanship, a loftier sense of 
justice, and a deeper feeling of human sympathy have made the 
present generation one which seeks not to incite war, but rather 
to. avert it. But while we have been solving the questions of war 
and peace with foreign foes, we have fostered here at home an 
enemy greater than them all. We have allowed combined capital, 
which has been the destroying agency in the fall of many a mighty 
nation, to gain sway and wield despotic power. With each succeed- 
ing year, the politicians of both parties have combined to remove 
obstructions from the pathway of an enemy which now threatens 
the stability of our government and the peace and happiness of 
millions of our people. Seeking favor for themselves and the 
few who share the spoils, politicians have for years placed their 
country on an auction block and sold its rich resources to a horde 
of mercenary tyrants. The people's needs have been ignored; the 



PATRIOTS VS. POLITICIANS. 233 

voices of reformers have been drowned by jeers and jests. Where 
once the voice of fearless patriots denounced all principles an- 
tagonistic to a true republic, we find today men who exhaust their 
genius in eloquent argument to foster evils and palliate wrongs 
which have ruined governments as great as ours. Loyalty to party 
ties and blind confidence in party leaders have led the people far-: 
ther and farther from that ideal democracy which breathes the prin- 
ciples of universal justice and equality; which characterizes as a 
crime any legislation which accords to classes advantages which 
rob the masses of their rights and privileges. For years the people 
have been worshiping false gods; for years they have been deluded 
by hopes and promises; for years they have entrusted the destiny 
of America to men they thought to be infallible ; for years they have 
visited the polls and voted at the dictates of their party, and trusted 
to that party's honor to fulfill the pledges it had made. For years 
they have watched the development of a country which has been 
the marvel of the century. They have witnessed the accomplish- 
ment of gigantic enterprises before which man involuntarily bows 
in awe and admiration; they have seen a wilderness develop as if 
by magic into cities, towns and fertile fields; they have seen rail- 
roads wind their way across a continent and unite the oceans by 
an iron band; they have seen palatial mansions reared above the 
heads of millionaires; they have seen the bounteous resources of 
this nation, placed here by the hand of Providence that all might 
share them equally, gradually become the private property of trusts, 
combines and syndicates; they have seen a few shrewd men absorb 
the nation's wealth, while millions practice daily lessons of economy, 
and thousands never know the comforts of a home, until today 
they see a nation broad enough to furnish every family a com- 
fortable dwelling place, rich enough in resources to give every will- 
ing man a chance to work. 

The Lamentable Contrast. 
But instead of peace and plenty which should exist in a country 
such as this, they see men and women, desperate from privation, 
begging for an opportunity to work; they see children whose child- 
hood days are spent in wretched poverty, whose youth is wrecked 
within the haunts of vice, and whose old age lengthens into weary 
years, cursed by ignorance and disease. They see hope die out of 
human hearts and anguish take its place; they see soulless corpo- 
rations reaching out and appropriating as their own the land which 
almighty God made free as air and sunshine, to be used and culti- 
vated, but never to become the private property of any mortal 
man; they see the energies of millions absorbed in the mighty 
struggle to appease the never-satisfied demands for interest, rents 
and taxes. And these golden streams of wealth, wrenched from the 



234 THE SILVER SIDE— Campaign Text-Book. 

pallid hands of want, wrung from the weary grasp of honest labor, 
pour like never-ending streams into the well-filled coffers of the 
rich, and every dollar tells a tale of misery, privation, want and 
sacrifice. 

Year after year the people have been pleading for relief; year 
after year their ballots have been cast for men whose promises 
were but the subtle sophistry of politicians; year after year the 
people's rights have been betrayed until there never was a time 
in the history of America when county, state and nation stood 
in such painful need of patriots. A crisis never dawned which 
demanded the solution of more vital questions. It is a time 
which demands the revival of colonial patriotism. The man who 
shrinks from duty now obstructs the pathway of his children who 
will curse him for his cowardice. The country needs a party to 
champion the cause of the oppressed; a party brave enough to 
scorn the sneers of criticism; a party in which every man is 
honest and sincere; a party whose every effort seeks to establish 
the true principles of Democracy; a party whose love for freedom 
and justice is greater than its love for wealth and power. 

To meet the demands of the times, the people must pursue the 
principles of reform. To abandon such principles now is to yield 
the power of government to the most vicious element that ever 
sought to enslave a nation. The coming century must witness 
a great reformation in the interest of the people if our present 
form of government is to be continued. 

United Action Demanded. 

If instead of uniting for mutual protection and the adoption of 
principles they know to be right and just, they choose to blindly 
follow party leaders who seek the responsibility of legislation and 
profit by the credulity of their constituents; if, instead of co-operat- 
ing regardless of past party affiliations in one of the most humane 
enterprises that ever inspired a generation, they yield to petty 
jealousies and sectional disputes; if they prefer an arid individuality 
to productive association; if, in the perpetuity of the government 
they see nothing but an opportunity for official plunder and ill 
gotten gains, then the glory of liberty, the love of justice and the 
grandeur of patriotism will gradually die out of the American heart, 
and all the tyranny and arrogance of excessive wealth and the 
viciousness and depravity of hopeless poverty will combine to wreck 
a government founded upon the broad principle of equal rights to 
all and special privileges to none. American liberty was purchased 
at too great a cost for the present generation to ignore its value. 
With the true spirit of patriotism, let every man and woman en- 
deavor to remedy the evils of our time that coming generations may 
not be cursed by an heritage of oppression and misery. 



CHAPTER XXVIII. 

CONSPECTUS OF POLITICAL PARTY HISTORY. 



BY THE AUTHOR. 

During the presidential campaign of 1897 and 1900, specially- in 
its educational aspects, the early history of national policies as mani- 
fested in the origination of parties and their acts, will be often re- 
ferred to, and used as precedents to explain the present unsettled 
condition of political affairs. The authors of that immortal docu- 
ment, the Declaration of Independence, and the framers of the con- 
stitution, under which the republic has so gloriously prospered, how- 
ever widely differing on question of polity, were then as now recog- 
nized by all as sincere, honest and patriotic. Hence, they are al- 
ways referred to and greater weight given to their opinions than to 
statesmen of later date. 

Entire unanimity of opinion could not be expected among men 
brought together from distant colonies, composed of people origi- 
nally of different nationalities. For the one great purpose, how- 
ever, the founding of a republic, a home for the oppressed of all 
nations, and especially for freedom from the government of Great 
Britain, all were agreed and worked unitedly for its accomplishment. 

Differences of opinion, as stated above, among the best and wis- 
est of patriots of that time were made manifest in the work of form- 
ing the constitution; these conflicting views, arising principally from 
diverse interest between the north and the south, were finally com- 
promised; nevertheless, even before the close of the Revolutionary 
war, parties were formed, and during the administration of Wash- 
ington, the first president, they became specially marked, and at 
times as virulent as in subsequent periods of the nation's history. 

The parties were then designated as Federalist and Republican. 
The most prominent leaders of the Federalists were Alexander 
Hamilton and John Adams; of the Republicans, Thomas Jefferson 
and James Madison. The Federalist party advocated a strong cen- 
tral government, the Republican favored the sovereignty of the 
states, the rights of the people, and finally secured those amend- 
ments and additions to the constitution intended to guarantee 
states' rights, and which declared that "All powers not expressly 
granted to congress by the constitution are retained by the states 
or the people." 

235 



236 THE SILVER SIDE— Campaign Text-Book. 

The Rise of Political Parties. 

It is not the purpose of the author to give an elaborate history 
of the two parties. Space will not permit it, neither is it advisable, 
the object of the writer being only to give readers a cursory view 
of their rise, and the prominent questions causing the division, thus 
paving the way for a better understanding of the existing political 
situation, and the present relation of parties. 

After the close of Washington's second term of the presidency, 
John Adams, the second national executive (1797), was elected by 
the Federal party, but in 1801 failed to secure a second term. The 
Republicans elected Thomas Jefferson, who served eight years, to 
1809. He was succeeded by James Madison, who also served two 
terms, giving place to James Monroe, who served eight years, from 
1817 to 1825. 

Mr. Monroe personally was, perhaps, the most popular of our 
early presidents. With him originated the Monroe doctrine, of 
which so much has been said and written, especially during the 
past year, and now bids fair to involve the nation in a war with 
Spain. It is right, nevertheless, and now being so prominently be- 
fore the American public, several pages of another chapter will be 
devoted to its consideration. 

The campaign of 1824 was the first in which the writer took a 
part, being only seven years old; the reader will at once recognize 
the fact that the services rendered were not very important, but like 
boys of the present, he took great pleasure in waving a small Amer- 
ican flag made by his mother, and in company with his father at- 
tended Whig meetings, the new name of the Federalist party, shout- 
ing as vociferously, "Hurrah for John Quincy Adams!" as he has 
for the twenty candidates for president since that time. His first 
vote was cast for the candidate for governor of Michigan in 1828, 
Hon. Wm. Woodbridge, and for President Wm. Henry Harrison, 
in 1840. 

The same year, 1824, it was his ever to be remembered pleasure, 
in company with his father and Elijah Fox, his grandfather, a Revo- 
lutionary soldier, to accompany them to Lockport, N. Y., where his 
grandfather, having traveled over a hundred miles, had come to meet 
his commander in the war, General Lafayette. I will not attempt 
to depict the scene. Tears of joy were in the eyes of both, and other 
Revolutionary comrades standing near, while the two in subdued 
voices talked for a few moments over events that occurred nearly a 
quarter of a century before. When about to leave, after shaking 
hands with grandfather, the affable Frenchman noticed the boy by 
his side, took him by the hand and spoke a few kindly words. From 
that time to the present the boy, now older than any one of that 
company at that time, has reverenced the patriotic Frenchman, who 



CONSPECTUS OF POLITICAL PARTY HISTORY. 237 

came to our assistance in the darkest hour of the revolutionary 
struggle. 

In 1816 party animosities had considerably subsided, but were 
again revived in the Jackson and John Quincy Adams contest of 
1824. The Federalists on account of their manifest sympathy for 
England during the French wars, and their opposition to the war 
of 1812 between our own country and Great Britain, had become 
unpopular, and the party assumed the name Whig, name of the 
party disloyal to the king during the Revolution, the party of the 
king being termed Tories. 

At this time the name of the opposition, hitherto Republican, 
was changed to Democratic-Republican, and was thus designated 
at the time of the first election of Andrew Jackson. The word Repub- 
lican was finally dropped, and from that time to the present the party 
has been known as Democratic. The name Whig was retained by the 
opposition until 1856, when the breaking of the old parties on the 
slavery question resulted in the formation of the present Republican 
party. It would be interesting to further speak of the prominent 
American statesmen who have been identified with the parties in 
making the history of this great nation; on the side of the Whig- 
Republican names the most prominent are: John Adams, 
Josiah Quincy, Alex. Hamilton, John Quincy Adams, Daniel Web- 
ster, Henry Clay, Wm. H. Seward, Abraham Lincoln, etc. The 
reader will readily understand that an extended account of the prom- 
inent parties named, and their works cannot be given in the limited 
space of a campaign text-book; only sufficient to enable readers to 
connect parties of earlier years and their work with present parties. 
A careful analysis will show that the issues then and now are not 
wholly dissimilar. 

For a more elaborate and clearer elucidation of the subject the 
reader is referred to the "History of Political Parties and National 
Reminiscences," a book of 600 pages, illustrated, published in 1895 
by the author of this work. Price, sent postpaid, $1.50. 

The United States government has had twenty-five presidents; 
the first, George Washington, the last, the present occupant, W T m. 
McKinley. For the benefit of the readers of "The Silver Side Text- 
Book," at large expense and labor, the author has procured an en- 
graved plate, giving accurate portraits, and the time of service of 
the twenty^five distinguished citizens who have been called by their 
fellow countrymen to fill this the highest of the world's positions. 
The engraving constitutes the frontispiece of "The Silver Side, 1900 
Campaign Text-Book." 

A Century of Republican Government Success. 
One hundred and eight years the people have chosen their own 
rulers; with one exception no serious difficulty has occurred in the 



238 THE SILVER SIDE— Campaign Text-Book. 

change from the outgoing to the incoming chief executive. Let 
the American citizen consider, and compare these facts with the his- 
tory of wars, revolutions and oppressions during that time in those 
parts of the world ruled by the "divine right'' of kings. Contrast- 
ing the condition of the people there and here for the past century, 
he cannot fail to see the great advantages that he has in thus living 
under a government of the people and for the people. 

The publication of this work and the presentation of these state- 
ments in a brief review of our history are made for the purpose of 
inspiring a greater love for our own beloved land, and, further, to 
timely warn the people of approaching danger, that they may be 
fully prepared to ward against it. 

The younger readers of 'The Silver Side," and many of the older 
ones, will be pleased and instructed by the beautiful picture of the 
presidents, immediately following the title page. It gives at a 
glance quite a history of the United States. 

In another chapter, under the caption of "Presidents of the 
United States," the administrations of the twenty-five presidents are 
briefly noticed in the order they served, accompanied with large 
portraits of Washington, Abraham Lincoln, U. S. Grant, Wm. 
Henry Harrison, and the present incumbent, Wm. McKinley. 

Are Political Parties Desirable? 

Whether desirable or not, they have existed, as shown above, 
from the time of the organization of the government, and in the 
opinion of the writer will continue just so long as men differ in 
their minds socially, religiously, and politically. How can it be 
otherwise? If religious men cannot harmonize their beliefs and 
meet together for worship, their differences having resulted in the 
organization of over 300 sects, and more coming, is it a matter of 
surprise that citizens, compelled to face a thousand unsolved prob- 
lems, especially in a republic where the people are hewing out of the 
great American wilderness and inaugurating a new form of gov- 
ernment hitherto untried, is it any wonder that there should exist 
two, three, or even more political parties? 

Differences of opinion on the many, many political questions 
have really, however, resulted in the division of people into only two 
grand divisions, Democratic and Republican. There have been and 
still exist lesser parties, but none that have had material effect in 
shaping national policies. It will be found on a close analysis of the 
administrations of the twenty-five presidents, conceding John Tyler 
to the Democracy and Monroe to the Whigs, that of the 108 years 
since Washington was first elected, Democrats have controlled the 
government 52 years, Republicans 56 years. Placing Mr. Monroe 
in the Democratic party where, perhaps, he more properly belongs, 
gives this party 60 years and the Republicans 48 years. 



CONSPECTUS OF POLITICAL PARTY HISTORY. 239 

Thus evenly divided in time we find the two great parties. On 
the whole the government has been governed wisely and well. 
Great mistakes have been made by both parties; the people, how- 
ever, quickly saw the wrong and the administration as quickly 
passed to the opposite party, as demonstrated by the facts of history 
herein stated. At times partisan contests both in the earlier and 
later years have been bitter, sometimes rancorous. Nevertheless, 
we are now prepared, and hope the reader is, to answer affirmatively, 
the question, ''Are political parties desirable?" 

To justify this conclusion by discussing the advantages, and 
sometimes wrongs resulting from extreme partisanship, is not our 
purpose. The advantages will readily occur to the intelligent 
reader. The history of previous and existing party organizations 
briefly given in this sketch exhibits the advantages of a balancing 
power, especially in a republic, resulting from the watchfulness of 
each other by opposing forces. The American citizen, educated 
from childhood in love of country, with the flag waving over every 
schoolhouse, is there taught that "Eternal vigilance is the price of 
liberty," and realizing that 

The greatest glory of a free born people, 
Is to transmit that freedom to their children, 

he scans with jealous eye every movement of the opposing party, 
carefully guarding the rich heritage bequeathed by the Revolution- 
ary fathers. 

There has never existed a more urgent call for vigilance than 
now. In June, 1896, there was convened in the city of St. Louis, a 
body of men, representing the Republican party; that body for the 
first time in American history, by the allurements and threatenings 
of the money power, transferred its allegiance from the party of the 
people, the party of Lincoln, to the party of plutocracy. 

We will not pause to verify this statement. The evidence is 
abundant. Let any one who cares to know the truth read the plain 
declarations of the party in the two immediately preceding national 
conventions, in its action on the same subject, favoring the use of 
silver on equal terms with gold. The St. Louis convention, by its 
adoption of the single gold standard, aroused to action and antag- 
onism thousands of men heretofore identified with the Republican 
party. In one voice they exclaimed in the language of Latham's 
"Distracted State": 

If we retain the glory of our ancestors, 
Whose ashes will rise up against our dullness, 
Shake off our tameness, and give way to courage; 
We need not doubt, inspired with a just rage, 
To break the necks of those who would yoke ours. 



240 THE SILVER SIDE— Campaign Text-Book. 

This action resulted in the calling of a Silver Republican na- 
tional convention in the same city, and the organization of a party, 
which subsequently nominated Wm. J. Bryan for the presidency. 
Acting in unison with the Silver Democrats and Populists, notwith- 
standing the combined efforts of plutocratic opposition in all the 
forms it has assumed, the triune party came near electing their can- 
didate, his popular vote being 6,508,687. Even with all the powers 
against him, the best informed men of the country, after careful 
investigation, are confident, if the fraudulent vote in several states 
and cities could have been discarded, the victory was on the side 
of the restoration of silver, which will in time surely come; little or 
no relief can come to the people and the nation until silver is re- 
stored as constitutional money. 

Notwithstanding the well founded belief of the many that Mr. 
McKinley was elected by fraudulent votes, the legal decision being 
in his favor settles the question with every law abiding citizen. He 
is president of the United States and silver men will support him in 
all good work, with the sincere hope that he will inaugurate meas- 
ures for the relief of the people. Americans, differ as they may, 
are all patriotic, and as we had somewhere in this "Silver Side Text- 
Book" proposed to make room for the publication of that grandest 
of national hymns, America, this article will be closed with it, espe- 
cially appropriate, this chapter being written inauguration day, 
March 4, 1897: 

America. 

My country, 'tis of thee, 
Sweet land of liberty, 

Of thee I sing; 
Land where my fathers died, 
Land of the pilgrim's pride, 
From every mountain side 

Let freedom ring. 

My native country! thee, 
Land of the noble free, 

Thy name I love; 
I love thy rocks and rills 
Thy woods and templed hills; 
My heart with rapture thrills, 

Like that above. 

Let music swell the breeze, 
And ring from all the trees 
Sweet freedom's song; 
Let mortal tongues awake, - 



CONSPECTUS OF POLITICAL PARTY HISTORY. 241 

Let all that breathe partake, 
Let rocks their silence break, 
The sound prolong. 

Our father's God, to thee, 
Author of Liberty, 

To thee we sing; 
Long may our land be bright 
With freedom's holy light; 
Protect us by thy might, 

Great God, our King. 




CHAPTER XXIX. 

TWENTY-FIVE PRESIDENTS— WASHINGTON TO McKINLEY. 

BY THE AUTHOR. 

In the preceding chapter, the reader will find a synopsis of 
United States political history, to which is here added a brief bi- 
ographical sketch of the twenty-five presidents who have served 
since the adoption of the constitution. Were these important po- 
litical facts in our country's history omitted, the work would hardly 
be worthy the title of a political text-book, hence, the author, ignor- 
ing partisan predilections, confidently places these two chapters in 
the hands of American voters, believing they contain, including the 
frontispiece, more of American political history than ever before 
published in the same space. Further, the author desires to 
present in "The Silver Side, 1900 Campaign Text-Book," a state- 
ment of all the important subjects upon which citizens will be called 
to vote in 1897-1900, and the intervening years. 

George Washington, First President of the United States. 
"First i?i War, First in Peace, and First in the Hearts of his Countrymen" 

The life of George Washington written out would not only 
comprise the history of his country during the time he was on 
the stage, but his course of policy as a warrior and statesman would 
be found to comprise all that is wise or good in the history of the 
present day. He received in his lifetime, and will retain forever, 
the noble appellations: "The Founder of the Republic," and the 
"Father of His Country." 

He was born on the 226. day of February, 1732, in Westmore- 
land county, state of Virginia. His instructions, like the children 
of southern planters in those early times, was domestic and scanty, 
but full of good discipline and sound principles. His father died 
when he was ten years of age and no opportunities were subse- 
quently offered, such as young Americans now have, for college 
and university education. His form, as well as his spirit, was 
martial, and at the early age of nineteen, so intensely was the pub- 
lic eye directed to him as a military chieftain, that he was appointed 
adjutant general of Virginia, which gave him the rank of major. 
It would be pleasant to the writer, and doubtless interesting to 

242 




GEORGE WASHINGTON, first president of the United States. 
For nativity and special incidents, see Chapter XXIX. 

EXTRACTS FROM ENGLISH SCHOOL HISTORIES. 

"Our generals were not very able, while the colonists selected as 
their leader George Washington, 'a man first in war, first in peace, and 
first in the hearts of his countrymen.' " "This noble patriot might be 
described as the type of an English gentleman. George Washington 
stands as pre-eminent as the one great figure of the American war of 
independence." "At first the English won, but a great man took charge 
of the American army. His name was George Washington, and he made 
his soldiers as brave and clever as Cromwell did those of England in the 
time of King Charles." "Washington was noted for his patriotic spirit, 
his infinite patience and his absolute unselfishness. There can be no doubt 
that the high character and sterling qualities of such a leader inspired the 
men under his command and helped in no small degree to bring the 
struggle to a successful issue." 



WASHINGTON TO McK!NLEY. 243 

the American reader, did space permit to write elaborately of Wash- 
ington's early career; of his journey to the Ohio to carry dis- 
patches from Governor Dinwiddie to the French commander, who 
was violating the existing treaties between France and England 
by the erection of fortifications from Canada to New Orleans; his 
services in organizing a force to be in readiness to meet the French 
and Indians; his subsequent services in the campaign of 1755 with 
General Braddock to penetrate the western wilderness to reduce 
Fort Duquesne. All mark him as a man born to be a soldier, 
these experiences being preparatory for the work of commander- 
in-chief of the United States army, in the great conflict to achieve 
the independence of the colonies. 

In 1774 he was sent to the continental congress. In that body 
he was distinguished for suggesting proper means for national de- 
fense. After the contest had opened, and the battles of Lexington 
and Concord had occurred, the eyes of congress and of the people 
of all the states turned to him and he was elected to the com- 
mand of the army. With the history of the long war of the Revolu- 
tion. American citizens are familiar and may well glory in its re- 
sults. After a trial of several years and the weakness of the federal 
constitution had been demonstrated, Washington was one of the 
members of the convention (1787) that formed our present con- 
stitution. In conformity with its provisions for the election of a 
president, by the unanimous vote in 1789 he was elected presi- 
dent of the United States, with John Adams vice-president. 

Washington now had a difficult course to pursue. The nation 
was without funds, unsettled in plans, and soon after agitated by 
party spirit. He succeeded, however, with the aid of the wise coun- 
selors called to his cabinet. From bankruptcy the national credit 
was established and order and confidence grew out of disorder 
and distrust. He allayed agitations at home, and overcame diffi- 
culties abroad. He performed duties as though he were acting for 
future ages, as well as his own times. He raised no hopes that 
he did not gratify, made no promises that he did not fulfill. 

Commander-in-Chief of the Army. 
On the 15th of June, 1775, Washington was unanimously elected 
by congress to "command all the continental forces raised or to be 
raised for the defence of American liberty." He appeared in his 
place the next day. The president of that body acquainted him with 
his election in a well-timed address, and "requested that he should 
accept of that position," to which Washington made the follow- 
ing reply: 

Mr. President: Though I am truly sensible of the high honor done me 
in this appointment, yet I feel great distress, from consciousness that my 



244 THE SILVEF? SIDE— Campaign Text-Book. 

abilities and military experience may not be equal to the extensive and 
important trust. However, as the congress desire it, I will enter upon 
the momentous duty and exert every power I possess in their service, and for 
the support of the glorious cause. I beg they will accept my most cordial 
thanks for this distinguished testimony of their approbation. 

But lest some unlucky event should happen, unfavorable to my repu- 
tation, I beg it may be remembered by every gentleman in the room 
that I this day declare, with the utmost sincerity, I do not think myself 
equal to the command I am honored with. 

As to pay, sir, I beg leave to assure the congress that, as no pecuniary 
consideration could have tempted me to accept this arduous employment 
at the expense of my domestic ease and happiness, I do not wish to 
make any profits from it. I will keep an exact account of my expenses; 
those, I doubt not they will discharge, and that is all I desire. 

Washington's Resignation of His Command. 

The war of the Revolution having terminated auspiciously, 
Washington took leave of his officers and army at New York and 
repaired to Annapolis, Md., where congress was then in session. 
On the 20th day of December, 1783, he transmitted a letter to that 
body, apprising them of his arrival, with the intention of resign- 
ing his commission, and desiring to know whether it would be most 
agreeable to receive it in writing or at an audience. It was im- 
mediately resolved that a public entertainment be given on the 
22d, and that he be admitted to an audience on the 23d, at 12 
o'clock. Accordingly he attended at this time, and, being seated, 
the president informed him that congress was prepared to receive 
his communications. Whereupon he arose and spoke as follows: 

Mr. President: The great events upon which my resignation depend 
having at length taken place, I have now the honor of offering my sin- 
cere congratulations to congress, and of presenting myself before them, to 
surrender into their hands the trust committed to me, and to claim the 
indulgence of retiring from the service of my country. 

Happy in the confirmation of our independence and sovereignty, and 
pleased with the opportunity afforded the United States of becoming a 
respectable nation, I resign with satisfaction the appointment I accepted 
with diffidence, a diffidence in my abilities to accomplish so arduous a 
task, which, however, was superseded by confidence in the rectitude of 
our cause, the support of the supreme power of the Union, and the 
patronage of Heaven. 

The successful termination of the war has verified the most sanguine 
expectations; and my gratitude for the interposition of Providence, and the 
assistance I have received from my countrymen, increased with every 
review of the momentous contest. 

While I repeat my obligations to the army in general, I should do in- 



WASHINGTON TO McKINLEY. 245 

justice to my own feelings not to acknowledge, in this place, the peculiar 
services and distinguished merits of the gentlemen who have been at- 
tached to my person during the war. It was impossible the choice 
of confidential officers to compose my family should have been more for- 
tunate. Permit me, sir, to recommend in particular those who have con- 
tinued in the service to the present moment as worthy of the favorable 
notice and patronage of congress. 

I consider it an indispensable duty to close this last act of my official 
life by commending the interests of our dearest country to the protection 
of Almighty God, and those who have the superintendence of them to 
His holy keeping. 

Having now finished the work assigned me, I retire from the great 
theater of action, and bidding an affectionate farewell to this august 
body, under whose orders I have so long acted, I here offer my commis- 
sion, and take my leave of all the employments of public life. 

It has become, especially in the last few years, quite a fad with 
some young smarts to ridicule and discredit, or try to, the interesting 
stories of Washington's childhood, of his youth and bravery in 
the early years of his manhood, while engaged amid the trying 
scenes of frontier life and of the Indian and French wars. Never- 
theless, some of the most thrilling of those incidents are sub- 
stantiated by evidence indisputable the writer believes them, and 
further, that it is for the highest good and glory of this or any 
other nation that can point the present and oncoming generation 
of men to such an ideal man and hero as was George Washing- 
ton, who was, as a military commander, brave, as a statesman, wise, 
and as a citizen it could truly be said: 

Our country's welfare is our first concern, 

And who promotes that best, best proves his duty. 

"Washington as President. 

Not long was this first and purest of patriots permitted to re- 
main in private life. The old articles of confederation failed to 
accomplish the objects of union and efficiency desired, the consti- 
tution "to form a more perfect union, establish justice, insure do- 
mestic tranquillity, provide for the common defense and promote 
the general welfare," our present fundamental law was adopted, 
and George Washington unanimously elected president. In this 
high civil position he shone as conspicuously for eight years as 
when occupying the highest military station. The wisdom mani- 
fest throughout the troublesome times of the Revolutionary period 
was equally marked through the turbulent, early years of the new 
government, new among the nations of the earth and largely ex- 
perimental. 



246 THE SILVER SIDE— Campaign Text-Book. 

It would be extremely gratifying to the author to devote suffi- 
cient space, were it possible to do so without injustice to other 
subjects, to quote from the patriotic, inaugural addresses and con- 
gressional messages of President Washington, fully equal to any 
that have followed from the twenty-four men that have since occu- 
pied the executive chair, certainly none have ever exceeded them 
in perspicuity, directness of purpose, and apparent total forgetful- 
ness of self, and free from ambitious party plans and purposes. 
How grandly favorable do they appear in contrast with late mes- 
sages of Cleveland and McKinley, not merely "recommendations" 
to the representatives of the people, but rather as commands from 
a sovereign to subjects! 

We must beg the indulgence of the reader, in making one more 
extract, the closing paragraph from his first inaugural address: 

To the preceding observations I have one to add, which will be most 
properly addressed at the house of representatives. When I was first hon- 
ored with a call into my country's service, then on the eve of an arduous 
struggle for its liberties, the light in which I contemplated my duty required 
that I should renounce every pecuniary compensation. From this resolu- 
tion I have no instance departed; and being still under the impression 
which produced it, I must decline, as inapplicable to myself, any share in 
the personal emoluments which may be indispensably included in a per- 
manent provision for the executive department, and must accordingly pray 
that the pecunary estimates for the station in which I am placed may 
during my continuance in it be limited to such actual expenditures as the 
public good may be thought to require. 

The addresses of Washington, this unexampled man, mark four 
distinct epochs in his history. First, when he accepted the com- 
mand of the army; second, when he surrendered his commission 
after having driven the foes of freedom from the country; the third, 
when he assumed the responsible duties of president, in which office 
his high qualities for civil government were as successfully dis- 
played as in military life; and fourth, when he resigned his trust 
and again took leave of the people in his "Farewell Address," in- 
deed, an invaluable legacy to the American people. 

Full of years and honors, through the gate 

Of painless slumber he retired 

And as a river pure 

Meets in its course a subterraneous void, 

Then dips his silver head, again to rise, 

And rising glides through fields and meadows new, 

So hath Oileus in those happy climes, 

Where joys ne'er fade, nor the soul's powers decay, 

But youth and spring eternal bloom. 



WASHINGTON TO McKINLEY. 247 

John Adams. 
(For Portrait see Frontispiece.) 
Second president of the United States was born at Braintree, 
Mass., October 30, 1735. A lawyer of eminent ability, he be- 
came one of the most influential advocates for the freedom of the 
country. Mr. Jefferson, in speaking of him, said*. 

The great pillar of support to the Declaration of Independence, and its 
ablest advocate, was John Adams. 

After the successful termination of the war, he filled many 
important official positions, at home and abroad. He was the 
first minister from this republic to Great Britain. In his first 
interview with the king, his words were so deeply interesting, 
as also were those of the king in reply, they are used to aid 
in perpetuating one of the many incidents of the early history of 
our country and give to Americans of the present something of 
the customs of the people, and courtly customs and requirements 
at that time. In his report he says: 

I went with his lordship through the levee room into the king's closet. 
The door was shut, and I was left with his majesty and the secretary of state 
alone. I made the three reverences; one at the door, another about half 
way, and the third before the presence, according to the usage established 
at this, and all the northern courts of Europe, and then addressed myself to 
his majesty in the following words: "Sir, the United States of America 
have appointed me their minister plenipotentiary to your majesty, and have 
directed me to deliver to your majesty this letter, which contains the 
evidence of it. It is in obedience to their express commands that I have the 
honor to assure your majesty of their unanimous disposition and desire 
to cultivate the most friendly and liberal intercourse between your majesty's 
subjects and their citizens, and of their best wishes for your majesty's health 
and happiness, and for that of your royal family. The appointment of a 
minister from the United States to your majesty's court will form an epoch 
in the history of England and America. I think myself more fortunate 
than all my fellow-citizens, in having the distinguished honor to be the 
first to stand in your majesty's royal presence, in a diplomatic character; and 
I shall esteem myself the happiest of men if I can be instrumental in 
recommending my country more and more to your majesty's royal 
benevolence, and of restoring an entire esteem, confidence and affection, 
or in better words, 'the old good nature and the old good harmony,' 
between people, who, though separated by an ocean, and under different 
governments, have the same language, a similar religion, and a kindred 
blood. I beg your majesty's permission to add, that although I have some- 
times before been intrusted by my country, it was never in my whole life 
in a manner 90 agTreeable to myself." 



248 THE SILVER SIDE— Campaign Text-Book. 

The king listened to every word I said, with dignity, it is true, but 
with apparent emotion. Whether it was the nature of the interview, or 
whether it was my visible agitation, for I felt more than I did or could 
express, that touched him, I cannot say, but he was much affected, and 
answered me with more tremor than I had spoken with, and said: 

"Sir; the circumstances of this audience are so extraordinary, the 
language you have now held is so extremely proper, and the feelings you 
have discovered so justly adapted to the occasion, that I must say that 
I not only receive with pleasure the assurances of the friendly disposition of 
the people ''of the United States, but I am very glad the choice has 
fallen upon you to be their minister. I wish you, sir, to believe, and 
that it may be understood in America, that I have done nothing in the 
last contest but what I thought myself indispensably bound to do, by the 
duty which I owed to my people. I will be frank with you. I was the 
last to conform to the separation: but the separation having been made, 
and having become inevitable, I have always said, as I say now, that I would 
be the first to meet the friendship of the United States as an independent 
power. The moment I see such sentiments and language as yours prevail, 
and a disposition to give this country the preference, that moment I shall 
say, let the circumstances of language, religion and blood, have their 
natural and full effect." 

Mr. Adams, in 1789, was elected the first vice-president of the 
United States, which office he held during the two terms of Wash- 
ington's administration, .and succeeded him by election to the 
presidency, March 4, 1797. This was the termination of Mr. Adams' 
public functions. He died on the 4th of July, 1826, with the same 
words on his lips which he had uttered fifty years before on the 
floor of congress, "Independence forever." 

Thomas Jefferson. 
(For Portrait see Frontispiece.) 

Third president was born April 13, 1743, elected in 1801, and 
served eight years. In some respects Mr. Jefferson's career was 
more marked than any other of our early patriotic fathers for 
distinguished service. He wrote the Declaration, being chairman 
of the committee appointed by the continental congress for that 
purpose. 

Mr. Jefferson filled many important offices; was secretary of 
state under Washington from 1789 to 1793, was elected vice-presi- 
dent in 1796, and president as above stated in 1801, and re-elected in 
1805. He died July 4, 1826, just fifty years from the date of the 
Declaration of Independence, aged 83. It is a remarkable fact that 
John Adams, a signer with him, died on the same day. 



WASHINGTON TO McKINLEY. 249 

James Madison, 
(For Portrait see Frontispiece.) 
Fourth president, was born March 16, 1751. He was prominent 
in the politics of his own state, Virginia, represented it in the 
continental congress, and a member of the Philadelphia conven- 
tion that formed the present constitution of the United States. He 
was secretary of state under Mr. Jefferson, and succeeded him, fill- 
ing the office two terms. Mr. Madison was one of the most 
prolific writers of his times. As a political writer he ranked with 
Hamilton and Jay. He was the last surviving member of the 
convention that formed the present constitution, and one of its 
most distinguished champions. He died January 28, 1837, aged 86. 

James Monroe. 
(For Portrait see Frontispiece.) 

Fifth president of the United States, was born April 28, 1758, 
a native of Virginia, as were three of his predecessors in this 
high office. In view of the number of men hailing from that state 
who were thus exalted, the state was designated "The Mother of 
Presidents." Mr. Monroe's administration from 1816 to 1820, as 
stated in another chapter, was so free from bitter partisan con- 
troversy, that it was called the era of peace. He was re-elected in 
182 1, with but one dissenting electoral vote, the only instance of 
so nearly a unanimous vote since the time of Washington. Mr. 
Monroe unquestionably added to his popularity by a tour of ob- 
servation through the states ; the first of the kind, of any magnitude, 
made by a president. He wore the uniform of a colonel of the 
continental army, three-cornered hat, scarlet-bordered blue coat, 
and buff breeches. He was everywhere received with such mani- 
festations of respect and esteem as were due him as a man and 
president. 

The most remarkable executive act of Mr. Monroe's adminis- 
tration was in his declaration to congress in 1823, that: " The Ameri- 
can continents, by the free and independent positions they have 
assumed and maintained, are henceforth not to be considered as 
subjects for future colonization by any European power." To 
give readers a full understanding of this subject, now so promi- 
nently before the American people, several pages immediately fol- 
lowing, are devoted to that subject. Mr. Monroe, in one of his 
messages, said : 

If there be a people on earth whose special duty it is at all times to 
be prepared to defend the rights with which they are blessed, and to surpass 
all others in sustaining the necessary burdens and in submitting to sacrifices 
to make such preparations, it is undoubtedly the people of these states. 

Monroe died July 4, 183 1, making the third ex-president who 



250 THE SILVER SIDE— Campaign Text-Book. 

died on that day. His life and services have been little under- 
stood by the people. He ranks equal to the very first of American 
statesmen. The author, did space permit, would gladly refer to 
his many acts, public and private, that mark him a great man. 

The Monroe Doctrine. 
(For much of the interesting matter contained in this chapter, we are in- 
debted to the National Tribune Library, of December 28, in which will be 
found portrait and life of Mr. Monroe. The publication is in magazine 
form, weekly, $2 per year. The number referred to contains text of the 
Monroe doctrine and its history, Secretary Olney's letter to Lord Salisbury 
and Salisbury's rejoinder, Cleveland's message, and a map of the dis- 
puted territory (Venezuela) in South America.) 

The Monroe doctrine has recently come so prominently to the 
front that it will become a question of no little discussion among 
other subjects now before the American people, hence, in con- 
nection with the biographical sketch of Mr. Monroe, it should be 
at least briefly noticed in "The Silver Side." Not having space to 
give a full history, the reader is referred to the above publication. 

The attention of congress was called to this subject by President 
Monroe in his message of December 2, 1823, as follows: 

We owe it, therefore, to candor and to the amicable relations existing 
between the United States and European powers to declare that we should 
consider any attempt on their part to extend their system to any portion 
of this hemisphere as dangerous to our peace and safety. With the existing 
colonies or dependencies of any European power we have not interfered 
and shall not interfere. But with the governments who have declared their 
independence and maintained it, and whose independence we have, on great 
consideration and just principles, acknowledged, we could not view any in- 
terposition for the purpose of oppressing them or controlling in any other 
manner their destiny, by any European power, in any other light than as the 
manifestation of an unfriendly disposition toward the United States. 

Our policy in regard to Europe, which was adopted at an early stage of 
the wars which have so long agitated that quarter of the globe, nevertheless 
remains the same, which is not to interfere in the internal concerns of any 
of the powers; to consider the government de facto as the legitimate govern- 
ment for us to cultivate friendly relations with, and to preserve those rela- 
tions by a frank, firm, and manly policy, meeting in all instances the just 
claims of every power, submitting to injuries from none. 

But in regard to these continents, circumstances are eminently and 
conspicuously different. It is impossible that the allied powers should 
extend their political system to any portion of either continent without en- 
dangering our peace and happiness, nor can any one believe that our 
southern brethren, if left to themselves, would adopt it of their own accord. 
It is equally impossible, therefore, that we should behold such interposition 



WASHINGTON TO McKINLEY. 251 

in any form with indifference. — Paragraphs 48 and 49, Message of December 
2, 1823. 

This declaration has not led hitherto to any conflict by armed 
hosts, which unquestionably would have been the result had any 
foreign power attempted its violation. During the war of the 
Rebellion, France, under Napoleon the Third, undertook the es- 
tablishment of a monarchy in Mexico. The United States was, for 
the time being, too busily engaged to give it attention, but im- 
mediately after the peace measures were adopted by the adminis- 
tration, that caused the withdrawal of the French army, and Ameri- 
cans are now confident that neither France nor any other coun- 
try will ever make another attempt to establish a colony or kingdom 
on the American continent. 

In 1895, the difficulties that had existed between Great Britain 
and Venezuela over the question of boundary culminated. Dip- 
lomatic relations between the two governments had been suspended 
for several years. In the meantime the United States had from 
time to time tendered its services, endeavoring to secure a peaceful 
settlement, recommending arbitration, but without success. Ven- 
ezuela, however, did not cease her efforts for arbitration, and in 
1876 again opened negotiations with Great Britain, giving immedi- 
ate notice to this government. 

To enter into a detailed account of the Great Britain-Venezuelan 
controversy is not necessary or germane to this work ; only enough 
of its history to show that the British government in this instance, 
as in all others in its dealings with small nations, was about to 
play the usual John Bull tactics when the United States government 
gave them due notice that "Uncle Sam" had a "Monroe doctrine," 
at which John Bull was kindly asked to take a look. He did so, 
the lion's mane dropped, and negotiations were entered upon 
which have resulted in a way which seems likely to prove satis- 
factory to all concerned. To the United States it certainly has, 
for the Monroe doctrine has been upheld by our own government, 
and having now been recognized by the most powerful nation of 
Europe, will never again be questioned, for the very good reason 
that it is right, and all nations know that the United States are able 
to enforce it. 

John Quincy Adams. 
(For Portrait see Frontispiece.) 

Sixth president, "the old man eloquent," while the Federal 
party existed, was identified with it; his father, John Adams, Alex- 
ander Hamilton and others of the most able and patriotic men of 
that time, were its leaders. But its favoring a strong central gov- 
ernment, and opposition to the war of 18 12, as before stated, caused 
its unpopularity and early disappearance. 



252 THE SILVER SIDE— Campaign Text-Book. 

In 1824 there were four candidates for president, Andrew Jack- 
son, John Quincy Adams, Wm. H. Crawford and Henry Clay. 
Party lines having been obliterated, the contest was more per- 
sonal than political. Mr. Crawford favored a strict construction of 
the constitution. General Jackson inclined the same way, while 
Messrs. Adams and Clay looked to the preamble of that instru- 
ment for its real meaning, viz.: "To form a more perfect Union, 
establish justice, insure domestic tranquillity, provide for the gen- 
eral welfare, and secure the blessings of liberty." 

In the electoral college Jackson had 99 votes, Adams 84, Craw- 
ford 41, Clay 37. No one having a majority, the election was 
thrown into the house of representatives, where Mr. Adams re- 
ceived the votes of thirteen states, General Jackson seven, Wm. H. 
Crawford four. Mr. Adams was elected. Mr. John C. Calhoun 
had been elected vice-president. 

Mr. Adams' administration was able and dignified. Some of 
the questions that have ever since divided the two great parties 
had their origin during this administration. In 1828 a high pro- 
tective tariff measure was enacted. Mr. Adams, quite in contrast 
with Mr. Monroe, avoided public show and display, seldom asso- 
ciated with the people, and in consequence was personally unpop- 
ular. 

Henry Clay had been appointed secretary of state. At the open- 
ing of Mr. Adams' administration, a charge of bargain and sale 
had been made, which, although unquestionably false, had its in- 
fluence, added to personal unpopularity, to prevent all through his 
administration the accomplishment of measures he recommended. 
His defeat in consequence was inevitable; the first president to 
be refused a second term. He was defeated by Andrew Jackson, 
electoral vote 178 to 83. 

John Quincy Adams, nevertheless, has left a bright page in the 
country's history. After his defeat he served his state in congress 
many years with honor to himself and the whole country. 

Andrew Jackson, 
(For Portrait see Frontispiece.) 

General Jackson, seventh president of the United States, was 
elected by an electoral vote of 178 to 83 for John Quincy Adams. 
His peculiar methods, deemed by many unwise and tyrannical, 
caused his administration to be the most exciting and sensational 
of the government up to that date, 1828. The canvass had been 
the most bitterly personal, probably none since have equaled it. 

It was on the battle field of New Orleans that Jackson won the 
sobriquet of "Old Hickory." His military record gave him the 
nomination for the presidency. He was the first nominee for that 



WASHINGTON TO McKINLEY. 253 

high position who attained it largely because of his soldier record; 
since that time, General Wm. Henry Harrison, Zachary Taylor, 
Winfield Scott (unsuccessful candidate), U. S. Grant, R. B. Hayes, 
J. A. Garfield*, Benjamin Harrison and Wm. McKinley — seven citi- 
zens who had served in the army, two in the Indian, two in the 
Mexican and four in the war of the Rebellion — have been candi- 
dates for the presidency, all but two elected. 

Andrew Jackson was also prominently noted for services in 
the Seminole Indian (Florida) war. That territory was then a 
Spanish province. Jackson, regardless of this, being on the war 
path, followed the Indians into Florida and took possession of 
Pensacola, its principal town. There he arrested two traders, 
English subjects, charging them with exciting the Indians to hos- 
tility. One was shot, the other hanged; he also hanged two prom- 
inent Indian chiefs. All these charges and many more were 
brought against Jackson in the 1828 campaign, nevertheless he 
was triumphantly elected. His administration was a tremendously 
turbulent one, more so than any other in our history. Notwith- 
standing, President Jackson retained his popularity, and was 
elected by a large majority; but no man was ever more intensely 
hated and so bitterly denounced by the minority. 

Martin Van Buren. 

(For Portrait see Frontispiece.) 
Eighth president, was born December 5, 1782, at Kinderhook, 
state of New York. Pie was Andrew Jackson's successor, being 
elected in 1836, over General Wm. Henry Harrison, candidate 
of the Whig party. This was at a time when the anti-slavery ex- 
citement was at its extreme height. He was fully committed to 
the policy of the pro-slavery party, as will appear by the following 
sentence in his inaugural address: 

I am the inflexible, uncompromising opponent of any attempt on the 
part of congress to abolish slavery in the District of Columbia against the 
wishes of the slave-holding states; and with a determination equally de- 
cided to resist the slightest interference with it in the states wherein it 
exists; no bill conflicting with those views can ever receive my constitu- 
tional sanction. 

Mr. Van Buren was an adroit politician, not a statesman. Jack- 
son, his predecessor, hardly ranks as a statesman, but he was a 
frank, outspoken, honest man. Soon after Mr. Van Buren's inaug- 
uration, the great financial crisis of 1837 burst upon the country. 
Then, as now, the commercial disaster was attributed to various 
causes. It is not deemed advisable in this work to elaborate on 
the 1837 panic. An extended account of its effects upon the people 



254 THE SILVER SIDE— Campaign Text-Book. 

and commercial interests will be found in the "History of the Po- 
litical Parties, National Reminiscences, etc.," above referred to. 

Wm, Henry Harrison, 
(For Portrait see Frontispiece.) 

Ninth president of the United States, was elected over Martin 
Van Buren in 1840. In 1836 he had been defeated by Mr. Van 
Buren; now the tables were turned, Harrison was the victor. Gen- 
eral Harrison was not only a soldier, but a civilian of national 
repute. His military record had been acquired in his service 
against the Indians in the war of 1812, specially in one battle, 
November 7, 181 1, wherein as commander of the force he gained 
a signal victory at Tippecanoe. There he obtained the sobriquet 
of "Old Tippecanoe," which name, like that of "Old Hickory," 
stuck to both during life. 

President Harrison lived but one month after his election. He 
was not an old man, but it was thought by many at the time that 
the cares and anxieties of the position hastened his death. He 
was mourned by the people generally, but his loss was most se- 
verely felt by the Whig party. 

The campaign of 1840, enthusiastically conducted by the Whigs, 
had resulted in his election, but unfortunately for that party, also 
in the election of John Tyler, in whose selection for vice-president 
they had not been as careful in inquiring into his political status 
as they should, and have been in later years. Subsequent events 
proved their victory to have been a barren one. 

General Harrison was born February 9, 1773, and died April 4, 
1 84 1, aged 68 years. 

John Tyler, 
(For Portrait see Frontispiece.) 

Of the tenth president, who attained the position because of the 
death of President Harrison, little can be said, unless we should 
enter into a detailed account of the political difficulties that oc- 
curred because of his differences with the party that elected him. 
Little, however, need be said, as he was not claimed by either 
party. He was a Virginian by birth, fifty years of age. He had 
in years previous been a Democrat of the Calhoun school, but at 
the time of his election to the vice-presidency was identified with 
the Whig party. He was popular in his own state. Had been 
governor and senator in congress. He was intensely devoted to 
the slave power, and on this subject hinged many of the diffi- 
culties that beset his administration. The most important act of 
Tyler during his administration was the signing of the bill for the 
annexation of Texas, as the date shows, three days before his leav- 
ing the office to his successor, James K. Polk, under whose ad- 
ministration the war against Mexico was conducted. 



WASHINGTON TO McKINLEY. 255 

James K. Polk. 

(For Portrait see Frontispiece.) 

The eleventh president's administration, like that of his im- 
mediate predecessor, was a turbulent one; a foreign war, and con- 
tinued intensified agitation on the slavery question, and to a con- 
siderable extent, protection, were the principal causes of discord. 
Mr. Polk was an able man, and was fortunate in the selection of 
a cabinet of distinguished men, all Democrats. In his message to 
congress he condemned the anti-slavery agitation, justified the 
annexation of Texas, and ordered the United States army, then 
under the command of General Zachary Taylor, beyond the Neuces 
river, beyond where Texas had ever exercised jurisdiction. This 
brought on the war with Mexico. 

By the treaty of peace, after the great victory, signed on Febru- 
ary, 1848, New Mexico and California were ceded to the United 
States; a territory vast, and rich enough of itself, as results have 
proved, for an empire equal to any on the globe. This result, it 
had been thought by the friends of slavery, would strengthen their 
cause, but it proved quite otherwise, in fact, disastrous to all who 
had hoped to make slavery a permanent institution of the coun- 
try; on the contrary, it proved to be one of the chief instrumentali- 
ties that finally caused its destruction. 

Notwithstanding the prominent part that circumstances com- 
pelled Mr. Polk to take in the exciting events of the time, many 
believed that at heart he was not a slavery propagandist. In one 
of his messages to congress the following passage appears: 

I have an abiding confidence that the sober reflection and sound 
patriotism of all the states will bring them to the conclusion that the dic- 
tates of reason are to follow the example of those who have gone before 
us, and settle this dangerous question on the Missouri compromise, or 
some other equitable compromise which would respect the rights of all, 
and prove satisfactory to the different portions of the Union. 

Zachary Taylor* 
(For Portrait see Frontispiece.) 
Twelfth president of the United States, elected in 1848, was an 
honest, brave man, a successful soldier, none ever more so. Unques- 
tionably his Mexican war record, where the sobriquet of "Old 
Rough and Ready" was conferred upon him by his comrades, added 
largely to his popularity. General Taylor had been an active sol- 
dier; he acquired a military reputation in the war with Great Britain 
in 1812, and subsequently in the Black Hawk, Florida and other 
Indian wars. To this reputation was now added his brilliant ser- 
vices in the Mexican war, eclipsing in fame even that of the then 
greatest American military commander, General Winfield Scott. 



256 THE SILVER SIDE— Campaign Text-Book. 

On his return to the United States the Whig party saw the 
great advantage it would have in the next election, if the general 
could be induced to become its candidate for the presidency. On 
solicitation he announced himself a Whig, and consented to accept 
the nomination, provided he could be left free from partisan pledges. 
The following June, at the national convention in Philadelphia, he 
was nominated, with Millard Fillmore, of New York, for vice- 
president. The following November this ticket was elected, over 
Cass and Butler, Democratic nominees. The agitation over the 
slavery question continued the prominent topic in politics. General 
Taylor was a southern man; nevertheless, in his first message to 
congress, he recommended that California, which had formed a con- 
stitution excluding slavery, should be admitted, and the terri- 
tories should form state constitutions and come into the Union, 
with or without slavery, as they might prescribe. At this juncture, 
Henry Clay, "the great compromiser," as he was subsequently 
called by his opponents, introduced his "Omnibus bill." 

This was the situation when on the 4th of July, three months 
after his inauguration, President Taylor was taken violently ill, 
and died on the 9th at the presidential mansion, and was succeeded 
by Vice-President Millard Fillmore. Thus for the second time 
within a few years the Whigs were unfortunate in the loss of a 
president of their choice by death. President Taylor had added 
to his admirers during his brief administration of only four months. 
His untimely death was mourned by all. Not unlike Andrew Jack- 
son he had said by his acts: " The U?iio?i, by the Eternal, it must 
and shall be preserved!' 

Millard Fillmore. 
(For Portrait see Frontispiece.) 

Thirteenth president, elevated to that position by the death of 
President Zachary Taylor, was a northern man, a Whig statesman 
of large experience, a very able and honorable man. Under even 
favorable circumstances a successor to one chosen by the people 
is an unfortunate position, but at this time it was especially un- 
fortunate for Mr. Fillmore; the country was laboring in the throes 
of the slavery agitation, now nearer the crisis of passing from the 
old to the new order than ever before. The Anti-Slavery party, 
in view of Mr. Fillmore's record, were expecting much favor from 
him, but were doomed to extreme disappointment. 

Immediately after the defeat of Mr. Clay's "Omnibus bill," as it 
was called, came the compromise measures before referred to. 
They were essentially the same as the one defeated, but the bill 
passed, and when it came to the president, he referred it to Attorney 
General Crittenden. That officer gave his opinion in favor of its- 
constitutionality. To the surprise of the northern Whigs, Mr. Fill- 



WASHINGTON TO McKINLEY. 257 

more approved the bill, and the ''Fugitive Slave Law" became one 
of the statutes of the land. Soon after the president issued a mes- 
sage giving due notice that he intended to enforce the law. This 
caused a total estrangement between Mr. Fillmore and his party. 

Mr. Fillmore was a candidate before the 1852 Whig con- 
vention, but failed to obtain northern support. In 1856 he was 
the nominee of the American party, but received only the elec- 
toral vote of Maryland. He died in Buffalo, his home, March 
8, 1874, age 74. 

Franklin Pierce. 
(For Portrait see Frontispiece.) 

Aside from the slavery question, in respect of which, in view 
of existing conditions, it could not be satisfactory to all, the ad- 
ministration of Mr. Pierce, fourteenth president, was a creditable 
one. The fugitive slave law, its approval, and proclamation of in- 
tended enforcement by President Fillmore, had dissatisfied the 
great majority of northern Whigs, and tended to widen the 
breach between the two sections of that party. The Democratic 
party remained intact, or nearly so, and, although the nomination 
of Mr. Pierce was unexpected, the party rallied to his support and 
he was elected by a large majority, having two hundred and fifty- 
four electoral votes, to only forty-two for General Scott. 

Franklin Pierce was one of the most popular Democrats of 
New England, and few men excelled him in oratory. These con- 
siderations, and the breaking-up of the Whig party, which had al- 
ready commenced, made his victory an easy one. Mr. Fillmore had 
sought for the nomination of the party and failed. He received a 
nomination from the American party in 1856, but received only the 
electoral vote of Maryland. 

James Buchanan, Fifteenth President of the United States. 
(For Portrait see Frontispiece.) 

Mr. Buchanan was born in Pennsylvania; nationality of Irish 
descent. He became noted early in the anti-slavery agitation 
as its opponent. During the administration of Martin Van Buren, 
he distinguished himself in support of the principal measure of the 
government — the establishment of the independent treasury. In 
1845 ne was secretary of state, and in 1853 was appointed by Presi- 
dent Pierce minister to Great Britain. 

He returned to the United States in 1856 and the same year 
was nominated as the Democratic candidate for the presidency. 
He gave his support to the pro-slavery party, and its agitation 
during his administration grew so rapidly that disruption and the 
war followed the election of his successor, Abraham Lincoln. 

From the close of his administration to his death he led a re- 

7 



258 THE SILVER SIDE— Campaign Text-Book. 

tired life, dying at Wheatland, Pa., January i, 1868. Probably 
no one, either friend or opponent, of Mr. Buchanan, in 1856, when 
elected, had thought that he would be the last to be elected by the 
Democratic party for the presidential office for twenty-eight years. 

Abraham Lincoln, Sixteenth President of the United States, 

(For Miniature Portrait see Frontispiece.) 

The breaking-up of the Whig and organization of the Repub- 
lican party, both caused by the persistent opposition of the 
northern states to the extension of slavery into the territories, 
resulted, as stated in the last chapter, in the election of Mr. Lincoln, 
the secession of nine states, and the nearly five years of war be- 
tween the two sections of the Union. 

The circumstances attending the election of Mr. Lincoln, the 
war that followed, the terrible sufferings, its immense cost to the 
nation, and the results are occurrences of so recent date that it 
is unnecessary to elaborate. Our school, township, city and free 
public libraries contain hundreds of volumes, written by partici- 
pants on both sides of that lamentable contest; add to these con- 
siderations the fact that orators from the southern states have 
visited the north, and eloquent speakers from the north have lec- 
tured through the south, making the war and its incidents the 
topic of their discourses; veterans of both armies have their local 
associations, meeting monthly and annually, thus preserving the 
history, general and particular, of the great conflict; all these 
considerations make it unnecessary to enter into details relating 
to the administration of Mr. Lincoln. 

This can and should be said: no more honest, sincere, capable 
man ever occupied the presidential chair. His burden was heavy 
as none but those near him know, even partially, and no one 
can fully appreciate. His mental sufferings were more than tongue 
can tell, or pen can record. All rejoice that he lived to see the 
cause in which and for which he suffered triumph — the Union 
of these states preserved. All mourned his tragic, untimely death, 
April 14, 1865, an d probably no man lives today, either north or 
south, who is other than his friend, and he has not an enemy on 
earth. 

Andrew Johnson, Seventeenth President, 
(For Portrait see Frontispiece.) 

Mr. Johnson, as vice-president, having been elected to that 
position at the time of Mr. Lincoln's second election, November, 
1864, on Mr. Lincoln's death, succeeded to the presidency. His 
accession at this critical period proved to be unfortunate. Be- 
cause of his bitter anathemas against the south during the war, 
and because of his saying at the time of his inauguration to a 
member of the Illinois delegation, "Treason is a crime, and 



WASHINGTON TO McKINLEY. 259 

must be punished," and the recollection of circumstances that 
transpired during his military governorship of Tennessee, it was 
feared that he would inaugurate a reign of terror in the south. 

In this the people were mistaken. Differences, however, soon 
arose between him and the party to which he was indebted for 
his election. These differences led to bitter antagonisms, and 
finally to an attempt to impeach. The house passed a resolu- 
tion for his impeachment February 24, 1868. The trial began on 
March 5th. 

On May 16th the trial was had before the senate; thirty-five 
senators were for conviction and nineteen for acquittal. A change 
of one vote would have resulted in his conviction. The senate 
adjourned sine die, and a verdict of acquittal was entered. This 
was the first and only attempt in our country's history to impeach 
a president. After the conclusion of his term, he retired to his 
home in Tennessee. In 1875 ne was elected to the United States 
senate. He died July 30, 1875, and was buried in Greenville, 
Tenn., where he had lived most of his life. 

General Ulysses S. Grant, Eighteenth President of the United States. 

(For Miniature Portrait see Frontispiece.) 
The citizen, the general, the president. Few are the govern- 
ments of earth than can produce an equal. In all the positions 
held by U. S. Grant, civil and military, his ability, integrity and 
patriotism were manifest. Seldom in either did he make a mis- 
take. He was quite distinguished as a subordinate officer in 
the Mexican war. When called to lead the armies of the United 
States, he found at tne head of the army of the confederate states 
a man and a soldier fully his equal. Fortunate, indeed, it was 
for General Grant and the Union that resources at his command 
far exceeded those of General Robert E. Lee. 

General Grant was born at Point Pleasant, Ohio, April 23, 1822, 
was educated at West Point, and after the close of the war in 
1868 was elected president. He was re-elected in 1872 — and a 
great many of his personal admirers and political friends sought 
for him a third nomination in 1876. This was, however, negatived 
by the American people, most decidedly opposed to third terms. 

In 1877 he made the tour of the world, and was received 
everywhere by the people with enthusiasm as the representative 
of successful democracy, and by rulers with marked distinction. 
The names of Washington, Jefferson, Madison, Monroe, Jackson, 
Lincoln, Grant, will ever live in American history. General Grant 
died at Mt. McGregor, July 23, 1885, at the age of 63. A very costly, 
beautiful tomb, erected for the purpose in New York city, con- 
tains his body. 



260 THE SILVER SIDE— Campaign Text-Book. 

Rutherford B. Hayes. 

Nineteenth president, was elected in 1876, over Samuel J. Til- 
den, at least it was so finally decided by a commission. Of the 
particulars of the long contention we shall not write. It is not in 
the scope of this text-book. To give facts is our purpose, suffice 
it to say there was great dissatisfaction, and for a time there 
were threatening dangers to the peace of the country ; but patriotism 
rather than partisanship prevailed, and Mr. Hayes served his four 
years, but no special event occurred to mark his administration; 
the manner of his election militated against his influence then and 
thereafter during his life. Democrats, and many Republicans, still 
believe that Samuel J. Tilden was wrongfully deprived of the 
office. 

James A, Garfield, Twentieth President. 
(For Portrait see Frontispiece.) 

Was elected by the Republican party in November, 1880, but 
unfortunately for him and his party, bitter conflicts in relation to 
appointments, in other words, division of the spoils, had arisen, 
specially in New York, where combination had been formed, ever 
the result of extreme partisanship. In fact, many believed that Mr. 
Garfield's murder, soon after his inauguration, by the hand of an 
assassin, was the direct result of these contentions. Mr. Garfield 
was personally popular, had served in congress several terms, and 
his untimely taking-off was lamented by the people generally. His 
assassin was arrested, tried and executed. 

Chester A. Arthur, Twenty-first President. 
(For Portrait see Frontispiece.) 
After the death of President Garfield, Vice-President Arthur at 
once took the oath of office, and without ceremony entered upon 
the duties of chief executive. His administration was generally 
satisfactory. He was a candidate for the presidential nomination 
in 1884, but was defeated by James G. Blaine, who was made the 
party candidate against Grover Cleveland, the Democratic nominee. 
The result of the election was very close, a few votes in the city 
of New York turning the scale against Mr. Blaine, electing Mr. 
Cleveland. 

Grover Cleveland, Twenty-second and Twenty-fourth President. 

(For Portrait see Frontispiece.) 
In November, 1884, for the first time since 1856, the Demo- 
cratic party succeeded in electing a president — the longest interval 
out of power that had ever occurred in its history. Any discussion 
of the reason for this long absence from the administration of the 
government, and for the defeat of Mr. Cleveland after receiving 



WASHINGTON TO McKINLEY. 261 

the nomination of his party in 1888, is outside the province of the 
text-book. Mr. Cleveland was again the nominee of his party 
in 1892, and was successful. Of his second administration, possibly 
some facts explanatory may be given. 

Benjamin Harrison, Twenty-third President of the United States. 
(For Portrait see Frontispiece.) 

Benjamin Harrison was born at North Bend, Ohio, August 
20, 1833, a grandson of General William Henry Harrison, ninth 
president. Benjamin Harrison had served successfully in the volun- 
teer forces in the 186 1 -1865 war » at its close he received a com- 
mission as brevet-brigadier general. After the war he filled various 
official positions in his state, and represented Indiana six years in 
the United States senate. At the Republican national convention 
in Chicago, June, 1888, after a six days' contest, he was made its 
nominee for president, and elected over Grover Cleveland. His 
administration was popular, though he was unfortunate in his 
appointments, antagonizing some of the party leaders, who raised 
up a powerful opposition to his renomination in 1892; his op- 
posers using the name of James G. Blaine, then secretary of state, 
as their candidate. Nevertheless, Mr. Harrison was nominated, but 
in the election was defeated by Grover Cleveland, his unsuccess- 
ful opponent in 1888. 

At the expiration of his term of office, General Harrison re- 
sumed the practice of law in Indianapolis, where he now resides, 
devoting a part of his time to literary work. Benjamin Harrison 
and Grover Cleveland are, at the time of this publication, 1897, the 
only living ex-presidents. 

Grover Cleveland. 

(For Portrait see Frontispiece.) 

The political career of Grover Cleveland, elected executive of 
the twenty-second and twenty-fourth administrations of public af- 
fairs, has been an anomaly in the political and party history of the 
United States. He was alternately approved and condemned by 
the people, and finally almost unanimously denounced by the 
nation at large and most decidedly by nine-tenths of his own party. 
In view of the very recent retiracy of Mr. Cleveland to private life, 
and the prominent events of his administration, being so vividly in 
the minds of the American people, to recall them would be a su- 
perfluous work and waste of time. 

Mr. Cleveland was an ultra opponent of the high tariff and 
protection policy of the Republican party, and his election in 
1884 was won on that issue. On the same issue in 1892 he 
defeated Benjamin Harrison, but immediately after his inaugura- 
tion he pushed the financial issue to the front, declared for the 



262 THE SILVER SIDE— Campaign Text-Book. 

single gold standard, and called a special session of congress 
for the declared purpose of repealing the purchase clause of the 
Sherman silver act, attributing the suffering condition of the peo- 
ple wholly to the evils of that act, if repealed, promising relief 
at once. By the power of public patronage, a liberal use of gold, 
and the help obtained from Republicans, he succeeded in ac- 
complishing his object, but not in the least bettering the con- 
dition of the country. 

Times continued to grow worse, the Republican party met in 
St. Louis to make their nomination for 1896, and, strange as it 
may seem, while determinedly insisting that the Wilson tariff was 
the cause of all the woes of the business world, joined hands with 
Grover and his anti-tariff supporters, who were there from all 
parts of the country, specially the money centers, and adopted the 
gold standard plank as a part of the party platform, Grover and his 
gold bond syndicate closing their eyes and ears for the time 
being to the horrors of tariff and protection, and Republicans per- 
mitting their cry against the Wilson-Democratic tariff to be 
hushed for the time, both parties hoping that by this combina- 
tion the money power might prevail. 

The unholy alliance succeeded, Mr. Cleveland using his presi- 
dential patronage to elect William McKinley, the high priest 
of high tariff and protection. This course can only be accounted 
for by his love of money outweighing his professed hatred of pro- 
tection, and by considering the fact that, although a poor man 
when elected president in 1884, in 1897 he retired a millionaire. 
How did he become thus suddenly rich? 

Is there not some chosen curse, 
Some hidden thunder in the stores of heaven, 
Red with uncommon wrath, to blast the man, 
Who owes his greatness to his country's ruin? 

"William McKinley, Twenty-fifth President of the United States. 
(See Portrait Page, also Miniature Portrait Frontispiece.) 
Mr. McKinley was inaugurated the 4th day of the month in 
which this is written. All the circumstances attending his nomina- 
tion, election and inauguration are fresh in the minds of the 
people. In all of these there is much to condemn. Money was 
used more largely to secure his nomination, to elect him, more cor- 
ruptly, and more lavishly to inaugurate him, than ever before in 
any presidential campaign. This was probably not altogether the 
fault of Mr. McKinley. He could not control Mark Hanna, and 
the thousands of money men in New York and other great money 
centers, even had he tried. Their highest money interests 



WASHINGTON TO McKINLEY. 263 

demanded the election of Mr. McKinley, and it demanded a con- 
gress that would perpetuate, make a sure thing of the gold stand- 
ard system adopted at St. Louis, hence all their methods were to 
secure those ends. 

Mr. McKinley is believed by the great majority to be an honest, 
well meaning man, but all know, too, that he is now in the grasp 
of the money power, hence the people's hopes for better times 
during his administration hang on a slender thread. The writer 
wishes he could write more encouragingly; how can he? All 
who have carefully studied the subject and will lay aside party 
prejudices and answer candidly must say, just as long as we have 
gold monometallism, times can be no better. Prices and wages 
must go still lower, as evidenced by the fact that not a day 
passes that papers fail to record a cut in wages in mines, manu- 
factories, work shops, railroads, etc. Mr. McKinley's record in 
congress, considered from a Republican standpoint of tariff and 
protection, was a strong, most decidedly strong, one, entitling him 
to be called the high priest of protection. In that line he has 
been consistent, but on the financial question he has varied, es- 
pecially if his letter of acceptance, his speeches made during the 
campaign, and his inaugural speech are to be taken as indicating his 
action as president. The president must know, and does know, 
that there is not, even in the distant future, the least ray of hope 
for international bimetallism. The writers of the St. Louis plat- 
form knew there was no probability of success in that direction, 
and they know it now. 

William McKinley, our twenty-fifth president, whose cabinet- 
sized portrait appears on another page and a miniature portrait 
in the frontispiece, was born in Trumbull county, Ohio, January 
29, 1843. I n J une > 1861, he enlisted in the volunteer service as a 
private. September 24th he was promoted to second lieutenant; 
February 7, 1863, first lieutenant; July 25, 1864, to captain. He 
was subsequently, for gallant services, promoted to major, and 
served on the staff of several general officers. By profession, he 
was a lawyer. In 1876 he was elected to congress and was con- 
tinually there until 189 1. He was the author of the tariff law that 
bears his name. In June 1891, Major McKinley was nominated for 
governor of Ohio, and subsequently elected. He was re-elected in 
1893. At the national convention in St. Louis, 1896, he was 
nominated for president, elected in November and inaugurated 
March 4, 1897. 



CHAPTER XXX. 

HISTORY OF OUR NATIONAL FLAG. 



BY THE AUTHOR. 

It is a fact well established, both by sacred and profane his- 
tory, that a standard or ensign was borne in the armies of all 
nations from the most distant past. That these flags or sym- 
bols, whatever design may have been used, exercised a powerful 
influence upon the nation, tribe or party using them as well as 
upon other people, we have the most positive proof. 

We hear of the long contests between the crescent and the 
cross, of the tricolor of France, and we know of our own starry 
banner, of our attachment to it; and all know, too, that, however 
loyally, deeply, the ordinary citizen may feel toward it, all 
other reverence and love sink far beneath that of the soldier who 
has for many a long, weary march under its folds "kept step to the 
music of the Union," and on the battle field defended it against 
shot and shell; that, too, with his comrades falling around him in 
death. These are the men who most deeply cherish a love for 
the stars and stripes, symbols significant of their country's glory. 
With pride, too, you hear them refer to "Old Glory" as they would 
to a very dear friend. Edward Everett, the orator and statesman, 
referring to it, says: 

It speaks for itself. Its mute eloquence needs no aid to interpret its 
significance. Fidelity to the Union blazes from its stars, allegiance to 
the government under which we live is wrapped in its folds. 

Daniel Webster, in one of his great orations, said: 

When the standard of the Union is raised and waves over my head — 
the standard which Washington planted on the ramparts of the constitu- 
tion, God forbid that I should enquire whom the people have commissioned 
to unfurl it, and bear it up; I only ask, in what manner as an humble in- 
dividual, I can best discharge my duty in defending it. 

Victor Hugo once wrote: 

There are two things holy — the flag which represents military honor, 
and the law which represents the national right. 

The day the author wrote the above sentence, referring to the 
264 




SAVING THE FLAG. 
Copyright by Thos. Nast, 1885. Reproduced from Thos. Nast's painting, with permission of the artist. 



HISTORY OF OUR NATIONAL FLAG. 265 

love and devotion to it of the soldier who had fought under its 
starry folds, he heard of the recent great painting of Thomas 
Nast, ''Saving the Flag," and that a copy could probably be ob- 
tained by applying to the artist, Monmouth, N. J. Immediate 
efforts were made to procure a reproduced copy engraved plate, 
suitable in size for "The Silver Side." 

The reader will learn from the appearance of the splendid illus- 
tration accompanying this article that we were successful. All 
who revere the flag can understand the significance of the paint- 
ing; but only the soldier can fully appreciate it. For him it will 
revive memories of the past that can never be forgotten; many 
special incidents of the war will be brought to mind, and he will 
rejoice that he was permitted to share in the glory of "Saving 
the Flag." 

His reminiscenses, however, will not all be joyful. The forms 
of the wounded, the dead and dying as seen in the painting will 
bring to mind comrades who fell in the great conflict, and were 
hastily laid in soldiers' graves on the battle field. The writer re- 
calls instances of which he would gladly make record; but not 
being appropriate in this history, possibly may be noticed in a 
future work containing war reminiscences. 

Perhaps there is no time or place when the "Star Spangled 
Banner" can be so fully appreciated by an American as when 
abroad. Recently a citizen who had been over the ocean for some 
months, on his return, related his impressions as his eyes caught 
sight of the American flag: 

I never realized how beautiful it was until I saw it floating at the peak 
of one of our vessels at anchor at one of the harbors of the old world, amid 
the fluttering banners of a dozen other nations. I remember how my 
eyes filled with tears as I turned to it, while an indescribable thrill ran 
through my entire being. I would gladly have kissed its waving folds if I 
had been near enough. As it was I kissed my hand to it as I wiped away 
the tears which would come in spite of all that I could do. Here was an 
emblem I had fought three years for, and under the folds of which I had 
offered my young life. That the sacrifice had not been accepted further 
than the best service I could render was no fault of mine. Now, under its 
folds I had a safe abiding place and to right any wrong done me, a nation's 
strength and wealth would be invoked, if need be. Yes, it is the most 
beautiful flag in the world, and if you wish to see it in all its beauty, look 
upon it thousands of miles from home among the flags of other nations and 
amid the sound of a language which conveys no meaning to your ears. 

In view of the above quotation, manifesting a quite well under- 
stood fact that no nation exists that cherishes a greater attachment 
for its flag than do Americans and realizing that very large num- 
bers are not fully acquainted with its history, the author is confident 



266 THE SILVER SIDE— Campaign Text-Book. 

that a few pages of this text-book cannot be more advantageously 
used that in giving the origin and gradual development of the 
national standard. 

Besides our national flag, the president of the United States 
has a flag called the natio?ial e?isign, the flag of the sovereign 
people of whom he is the popular representative, and from whom 
he derives power and authority. This flag and ensign is de- 
scribed as follows: 

A blue rectangular flag, studded with a constellation of white stars, 
equal in number to the states in the Union. This flag to be hoisted at 
the main royal masthead of any vessel of war or tender of the navy while 
the president is on board, and to be carried in the bows of a boat be- 
longing to any vessel in the navy in which the president for the time 
being may be embarked. The president's flag is to be honored with a 
salute of twenty-one guns. 

All readers of American history are aware that for more than 
fifteen years preceding the Declaration of Independence, protests 
against the oppressive acts of Great Britain had been made, and 
that the colonists did not confine themselves merely to protests, 
but organized bodies of "Sons of Liberty" were formed in the 
colonies, north and south; liberty poles were erected from which 
streamed flags of different designs, colors (principally red) and 
mottoes. These poles were frequently cut down by the British 
soldiers and by Tories, but as often replaced. 

At Taunton, Mass, October 1774, a union flag was raised on 
the top of a liberty pole, with the words "Liberty and Union," there- 
on. Of the many different union flags used in these times, no 
definite description has been preserved. It is said by Commodore 
Preble, in his reliable work on "The Flag of the United States": 

It is more than probable and almost certain that these flags were mostly 
the familiar flags of the English and Scotch union, established in 1707, 
and long known as "Union Flags," inscribed with various popular and 
patriotic mottoes. 

At Bunker Hill, and other early battles of the Revolution, sol- 
diers fought under the banner known as the "Pine Tree Flag." 
Colonel John Proctor's regiment all through the war carried one 
of the rattle-snake flags. This flag is still preserved, the only 
one known of the many of that design. Its significance will be 
understood by the position of the snake, and the motto, as painted 
on the flag. The serpent's head is raised as if in defiance toward the 
English Union Jack, and in large, black letters, the words, "Don't 
tread on me." 

It would require a large volume to make record of the many 
descriptions of the colors and standards improvised by the Revo- 



HISTORY OF OUR NATIONAL FLAG. 267 

lutionary patriots in the early days of their struggle for freedom 
from British rule. On an orderly book of the army at Williams- 
burg, Va., under date: "Headquarters, April 8, 1776," is found this 
entry: 

The colonels are desired to provide themselves with some colors and 
standards, if they are to be procured, it doth not signify of what sort they are. 

Before coming directly to the making and adoption of the 
starry banner, to be fully understood it is well to mention that the 
stripes preceded the stars on the flag. Botta, in his "History of 
the American Revolution," says: 

The hostile speech of the king at the meeting of parliament had arrived 
in America and copies of it were circulated in the camp. It was announced, 
also, that the first petition of congress haa been rejected. The whole army 
manifested the utmost indignation at this intelligence; the royal speech 
was burnt in public by the infuriated soldiers. They changed at this time 
the red ground of their banners, and striped them with thirteen lists as an 
emblem of their number, and the union of the colonies. 

Bancroft, in his history of the United States, describes this flag 
as the tricolored American banner, not yet spangled with stars, 
but showing thirteen stripes, alternate red and white, in the field, 
and the united crosses of St. George and St. Andrew on a blue 
ground in the corner. 

But the time had now come for the adoption of a permanent 
flag. July 4, 1776, the Continental congress had declared this to be 
a free and independent nation, and it became necessary to substi- 
tute a national flag in place of the heterogeneous number then in 
use. October 20, 1775, Washington writes to Colonel Glover and 
Stephen Moylan: 

Please fix upon some particular flag and a signal by which our vessels 
may know one another. What do you think of a flag with a white ground, 
a tree in the middle, the motto, "Appeal to Heaven"? 

The Flag as Adopted by Congress, 

It has been shown herein that the national flag at this date 
carried thirteen stripes, which represented thirteen states, but no 
stars. The admission of the states of Tennessee, Ohio, Louisiana 
and Indiana made some change in the flag desirable. Accordingly, 
in 1816, when Indiana was admitted, a resolution was offered in 
congress that a committee be appointed to inquire into the 
expediency of altering the flag of the United States. 

This committee, after due investigation, recommended reducing 
the stripes to thirteen (two having been previously added by the 
admission of Tennessee and Ohio), to represent the original states, 
and the stars to be increased to the number of all the states, formed 



268 THE SILVER SIDE— Campaign Text-Book. 

into one great star, whose brilliancy should represent their union 
and thus symbolize in the flag the origin and progress of the 
country and its motto, E. Pluribus Unum. 

This report and final action thereon was long delayed, but 
finally passed, with the title, " bill to establish the flag of the United 
States," and was approved by the president, James Monroe, April 
4, 1818. This was the second and probably the last alteration that 
will ever be made in the flag except to add new states. At the 
above date there were twenty states represented by that number 
of stars; since that time, twenty-five stars for as many states have 
been added to the constellation. It is "manifest destiny" that many 
more will be added, hence it is altogether probable that the blue 
canton of the flag on which the stars appear will have to be en- 
larged; it is even now too crowded to see the number distinctly. 

Making of the First Flag. 

"It will probably never be known who designed our union of 
stars," says Commodore Preble, but we have positive evidence 
of the person whose handiwork made the first flag. 

Mr. William J. Canby, in 1870, read before the Historical So- 
ciety of Pennsylvania a paper on the American flag, in which he 
claimed that his maternal grandmother, Mrs. John Ross, was the 
maker and partial designer of the first flag, combining the stars and 
stripes. The house where this flag is made is now 239 Arch street, 
below Third, Philadelphia. A committee of congress, he asserts, 
accompanied by General Washington, in June, 1776, called upon 
Mrs. Ross, who was an upholsterer, and engaged her to make the 
flag from a rough drawing, which, at her suggestion was redrawn 
by General Washington in pencil in her back parlor. The flag 
thus designed was adopted by congress, and was, according to Mr. 
Canby, the first star-spangled banner that ever floated on the 
breeze. 

Mrs. Ross received the employment of flag making for govern- 
ment and continued it for many years. Three of Mrs. Ross' daugh- 
ters were living when Mr. Canby wrote his paper and confirmed his 
statement, founding their belief on what their mother had told 
them concerning it. A niece, Miss Margaret Boggs, then living 
at Germantown, aged 95, was also cognizant of the fact. As re- 
lated by them, Col. George Ross and General Washington visited 
Mrs. Ross and asked her to make the flag. She said, "I don't know 
whether I can, but I'll try," and directly suggested to the gentlemen 
that the design was wrong, the stars being six cornered and not 
five cornered (pointed) as they should be. This and other changes 
were made. It is frequently asked why the stars on our banner are 
five pointed, while those on our coins are, and always have been, six 



HISTORY OF OUR NATIONAL FLAG. 269 

pointed. The answer is, that the designer of our early coins 
followed the English, and the designer of our flag the European 
custom. In the heraldic language of England, the star has six 
points; in the heraldry of Holland, France and Germany, the star 
is five pointed. In a letter subsequently written by Mr. Canby, he 
says : 

It is not tradition, it is report from the lips of the principal participator 
in the transaction, directly told, not to one or two, but a dozen or more 
living witnesses, of whom I myself am one, though but a little boy when I 
heard it. 

The author could here introduce much evidence of a cor- 
roborative character, but in view of the positive testimony already 
given, it seems unnecessary. Here could be added accounts of 
deepest interest to Americans, of instances, civil and military, that 
transpired immediately following the adoption of the star spangled 
banner, with a halo of glory now gathered to itself after little more 
than a hundred years. Limited space will permit reference to 
only two. 

The first military incident connected with the new flag occurred on 
the 2d of August, 1777, when Lieutenants Bird and Brant invested Fort 
Stanwix, then commanded by Col. Peter Gansevoort. The garrison was 
without a flag when the enemy appeared, but their patriotism and ingenuity 
soon supplied one in conformity to the pattern just adopted by the con- 
tinental congress. Shirts were cut up to form the white stripes, bits of 
scarlet cloth were joined for the red, and the blue ground for the stars 
was composed of a cloth cloak belonging to Captain Abram Swartwout, of 
Douchess county, who was then in the fort. Before sunset, this curious 
mosaic standard, as precious to the beleaguered garrison as the most beau- 
tiful wrought flag of silk and needlework, was floating over one of the 
bastions. The siege was raised on the 226. of August, but we are not 
told what became of the improvised flag. 

Beyond a doubt, the thirteen stars and thirteen stripes were unfurled 
at the battle of Brandy wine, September 11, 1777, eight days after the 
official promulgation of them at Philadelphia, and at Germantown on the 
4th of October following; they witnessed the operations against and the 
surrender of Burgoyne, after the battle of Saratoga, October 17, 1777, and 
the sight of this blue constellation helped to cheer the patriots of the 
army amid their sufferings around the camp fires at Valley Forge the en- 
suing winter. They waved triumphant at the surrender of Cornwallis at 
Yorktown, September 19, 1781; looked down upon the evacuation of New 
York, November 25, 1783, and shared in all the glories of the latter days 
of the Revolution. 

The treaty of peace with Great Britain was no sooner announced, 
than the white wings of commerce began to expand all over the 



270 THE SILVER SIDE— Campaign Text-Book. 

watery globe, under the genial union of the stars and stripes, dis- 
playing them everywhere to the wondering gaze of distant nations 
and the furthermost isles of the sea. When the thirteen stars and 
stripes first appeared at Canton, China, much curiosity was excited 
among the people. News was circulated that a strange ship had 
arrived from the farther end of the world, bearing a flag as beautiful 
as a flower. Everybody went to see the Faw-Kee-Cheum, or 
flower-ship. This name at once established itself in the language, 
and America is now called, Faw-Kee Koh, the flower-flag country, 
and an American, Faw-Kee-Koch-Yin, flower-flag countryman. 

The history of the flag as here given has been gleaned from 
many authentic sources; different volumes of American history; 
''Origin and Progress of the Flag of the United States," by Captain 
George Henry Preble, and other publications have been carefully 
consulted, to get all possible, essential facts touching so important 
an event as the permanent adoption of a national standard. Every 
reader will cherish the hope, as expressed in the poetic work, "The 
American Flag," by young Joseph Rodmon Drake, concluding 
with the lines: 

As fixed as yonder orb divine 

That saw the bannered blaze unfurled, 

Shall thy proud stars resplendent shine, 
The guard and glory of the world. 




JAMES K. JONES, United States Senator from Arkansas, is a na- 
tive of Mississippi. He was born September 29, 1839; received a classical 
education; a Confederate soldier; after the war lived on his plantation 
until 1873, then commenced the practice of the law; was a member of the 
state senate, re-elected in 1877; elected to the Forty-seventh Congress; 
re-elected to the forty-eighth and forty-ninth; took his seat as United 
States Senator March 4, 1885; re-elected in 1890; his term will expire in 
1897. He is an earnest opponent of the single gold standard. 



CHAPTER XXXL 



POLITICAL ECONOMY. 



A COMPILMENT BY THE AUTHOR. 

Political economy treats of the sources, the production, the dis- 
tribution, the accumulation, and the consumption of national wealth, 
the effect of those institutions on society which are immediately 
connected with the increase or diminution of national wealth, and 
the effects produced on society itself by its increase or diminution, 
The end and object of this branch of knowledge is to show in 
what manner and by what means the physical gratification of 
human wants can be most equitably, conveniently, certainly and 
effectually distributed among all the classes of society. 

In no political campaign of our country's history have economic 
questions entered into public notice and discussions so intimately 
and generally as those of 1896, and of 1897-1900, upon which we 
have just entered. 

The cause of this special consideration just now may be 
attributed to the fact that never before has the subject of national 
finance been made the paramount issue before the people. 

Economic and financial conditions are so intimately related, 
.that political speakers and writers use terms that are equally ap- 
propriate to either subject. High taxes, high duties, sources of 
wealth, social forces, rents, raw material, productive labor, etc., are 
constantly and necessarily used by political speakers, and just as 
appropriately by economists. 

Having in mind these facts, "The Silver Side Text-Book," 
visiting thousands of families, as it will, where young men and 
women are for the first time, perhaps, investigating subjects now 
so prominently before the American people, and as the closing 
presidential campaign of the century is to be one of education, the 
author has thought it advisable to devote a chapter to the elucida- 
tion of terms most frequently used by speakers and writers on 
these subjects, with the hope that the concise explanations here 
given may aid in the solution of the economic, social and political 
problems now being considered by the American public. 

271 



272 THE SILVER SIDE— Campaign Text-Book. 

National wealth does not consist in mere money or coin. 

Statesmen and legislators do not know better how to direct the various 
branches of industry, and the employment of capital, than the individuals 
who draw their subsistence from them. 

Taxes impoverish a nation, though spent at home. 

High taxes are injurious, though they urge to great exertion; and, 
though spent at home, do not foster industry. 

Chartered, companies, exclusive privileges, and monopolies are in- 
jurious institutions, in regard to commerce and manufactures. 

National splendor is no sure sign of national wealth and national 
happiness. 

The prosperity and increasing riches of manufacturers are not the 
same thing as national prosperity. 

We should not make laws to increase the wealth and influence of 
great capitalists, and put the poor who work for them more completely 
under their subjection. 

We ought not to so frame a national system as to make the rich 
richer and the poor poorer. 

Laws ought to operate with equal advantage to all classes of the 
community, and protect all classes equally. 

Restrictions, high duties and prohibitions are not necessary to furnish 
employment for our people at home, agriculture and commerce, and the 
trades connected, being adequate for that purpose. 

Sources of Wealth — Labor employed in conferring on a raw material 

some property or quality that renders it desirable. Skill and capital are 

usually necessary for this purpose, but these, by ultimate analysis, are 
resolvable into labor. 

Labor — Human exertion employed to produce or confer some de- 
sirable quality or property — that is, exchangeable value — on some raw ma- 
terial. Hence, labor is the main, or, rather, the only, source of wealth. 
Labor is, for the most part, hired and exerted for the sake of the wages 
or remuneration paid by the employer. When we speak of labor, we 
usually refer to the mere bodily exertion of a day-laborer, exclusive of 
acquired skill. Political economy itself may be considered as that science 
which determines the circumstances that influence the productive power 
of human labor, and the distribution of the proceeds. 

Wages — That portion of the money value of the commodity produced 
which the laborer receives as his compensation; in other words, the money 
or other useful commodity given as a compensation to the laborer for 
his labor. This must be so much as to insure to the laborer and a 



POLITICAL ECONOMY. 273 

moderate family a portion of the necessaries of life, sufficient to sus- 
tain bodily strength. Hence, all taxes on the necessaries of life either 
enhance wages or reduce the laborer to want. Wages are higher when 
combined with skill, which is acquired by previous labor, and may, in fact, 
be considered as capital. Thus, the wages of a painter or sculptor are 
far greater than those of the weaver of the canvas, or the digger in 
the quarry. 

Value — Utility, real or fancied, conferred by skill, labor and capital. 
Thus, a piece of glass made into spectacles has real utility conferred 
on it; a piece of glass cut in imitation of a diamond has fancied 
utility conferred on it. In both cases, exchangeable values — that is, some 
desirable quality — have been artificially conferred on the rough and worth- 
less material. 

Productive Labor or Industry — That which confers exchangeable value 
on any material object, which it did not possess before; or which con- 
fers skill and knowledge, which can be used in conferring value, or which 
are, in themselves, valuable and salable, as the knowledge of a lawyer 
or an engineer. 

Unproductive Labor or Industry — That which is expended without 
producing value or contributing to produce it. 

Production — The formation of anything desirable, or that constitutes 
wealth. It is the result of labor. 

Produce — The effect of productive industry employed upon the soil 
or land. 

Product — The effect of productive industry employed in rendering any 
material substance valuable. Nearly synonymous with the popular word 
"commodity." A product generally depends on the productive agency 
of nature, or skill, labor and capital. It is, for the most part, the com- 
bined result of these. Thus, in a steam engine, the skill, labor and capital 
are employed to render the natural agents, fire and water, productive. 

Land includes soil, waters, fisheries, vegetables, rocks, mines and 
minerals. Land supplies raw material and food. 

Ingredients of Value — Cost of the raw material, which is sometimes paid 
in the form of rent; as for brick earth near a metropolis, for land con- 
taining porcelain clay, for marble quarry, for ozier swamps on river banks, 
to make baskets, for a quarry of burr stone, for a mine, etc. The intrinsic 
value of raw material before any labor is bestowed upon it depends on 
its plenty or scarcity, or the difficulty or facility with which it can be pro- 
cured, and its capability of receiving value by means of skill, labor, and 
capital employed upon it. A handful of mud is of no value; a handful 
of raw diamonds may be of great value. The next ingredient of value is 
wages of the laborer — that is, labor — employed in producing and conferring 

18 



274 THE SILVER SIDE-Campaign Text-Book. 

value on this raw material; then the profits of the capital necessarily 
expended in purchasing the raw material, paying the wages, furnishing the 
tools and implements, etc. This, also, is reducible to labor. 

Measure of Value — The actual, practical measure of value is the average 
money-price of the article in question at the given time and place; and 
it is the average, because the money market, or current price, will be 
sometimes a little higher, sometimes a little lower, than the natural price, 
owing to the temporary fluctuations in demand and supply. It is reducible 
to the quantity of labor the article can command. Money is the repre- 
sentative ultimately of labor. 

Money Price, Market Price, Current Price — The amount in current 
money which any useful or desirable article will command when ex- 
posed to sale. This depends permanently on the natural price, and oc- 
casionally on the demand compared with the supply. Market price is the 
price for the time being. 

Real price, natural price, consists in the cost (if any) of the raw 
material, the amount paid in wages for the labor expended upon the 
article, and the usual profit on the capital employed upon it; all reducible 
to the labor expended upon it before it be fit for market. It is that 
price which will enable the seller to reproduce the article in the same mar- 
ket, with a reasonable profit. If this cannot be obtained, supply ceases. 
Prime cost will be this natural price, deducting the profit on the capital 
employed. 

Social Price — The price that commodities bring when influenced by 
restrictions, monopolies, taxes and legislative regulations. Thus, the natural 
price of a bushel of wheat, or the amount of labor necessary to grow it 
and bring it to market, is one thing; the price of the same wheat influenced 
by the laws of any nation is more. This last is the social price. 

Raw Material — Any material object employed to receive value, or to 
have utility conferred upon it by human industry, skill and capital. It has, 
therefore, a natural value dependent on its capability of receiving artificial 
value. 

Commodities — All articles possessing exchangeable value and com- 
manding price. 

Revenue, Income — The annual amount of money or other valuable com- 
modities which a man is entitled to, or receives, whether as landholder, in 
the form of rent; as agriculturist, manufacturer, or merchant, in the form 
of profit; as a member of one of the learned professions, in the form of 
fees, or as a magistrate or public officer in the form of salary; or in 
any other lawful way. 

Capital — That portion of a man's revenue which remains as a surplus 
or saving after all his expenditures are made. A surplus which may be 
laid out to produce further profits or additional revenue. 



POLITICAL ECONOMY. 275 

Wealth is a relative term, for as there is only a certain amount of 
property in a country, so the possessfon of a large share by one man is 
the poverty of others. The wealth of individuals is, therefore, no benefit 
to the country, while as to others it is the cause of their poverty. If all 
the property in a country is worth a million, and one man has half a 
million, there remains but half a million for all others, and if nine or ten 
possess nine-tenths the rest would be poor. This principle of accumula- 
tion, the curse of advancing, or old, society, is favored by the substitution of 
money for barter; since goods could not be accumulated like money. 
To correct these mischiefs, the inducements to accumulate should be di- 
minished by fixing a very low rate of interest for money in comparison with 
the wages of labor or the profits of industry. Money, as an artificial 
convenience, ought not to be allowed to be abstracted and usurers should 
be systematically discouraged, for the general benefit of the whole com- 
munity. Interest of money is the slavery of the borrower to the lender, 
and there ought to be as few slaves as possible, while the slavery which 
exists ought to be of the slightest kind. 

Fixed capital consists of the workshops, warehouses, buildings, tools 
and other conveniences necessary to produce future profit by means of 
the capital thus invested in them. These, in mercantile and manufacturing 
language, constitute the plant of a merchant or manufacturer. The stables, 
the barn, the granary, the sheds, the carts, the wagons, plows, harrows and 
other implements of husbandry, the horses, cattle, etc., of a farmer con- 
stitute his plant or fixed capital. Plant is a metaphorical term, as if a 
man were planted and rooted where his fortune is to be made and grow. 

Rent is the price paid to a landowner for the loan of capital in 
( the form of land, of houses, warehouses, water power, machinery, etc. 
Clear rent is that which remains to him, after deducting interest of capital, 
expenses, and all out-goings. 

Unproductive Class — Those members of society who do not labor 
in any manner, or whose labor may well be dispensed with, as contributing 
little or nothing to the gratification of those wants in which it is innocent 
and desirable to indulge. 

Paper Money — Paper Currency — This is usually considered as consisting 
of bankers' promissory notes, payable on demand. But these by no means 
constitute the whole of paper money, or even the most considerable part 
of it. The other kinds of paper money in common use are bank credits 
and bills of exchange, domestic and foreign, and merchants' drafts on 
each other. The merchant who draws this bill of exchange in consequence 
of having transmitted goods to the amount, either sells this bill to his 
neighbor, who has imported goods from the same country, or else he re- 
ceives from his foreign debtor a bill of exchange in return, on some per- 
son in the country of the creditor, or within the circle of his dealings. 



276 THE SILVER SIDE— Campaign Text-Book. 

The price of bills of exchange on a foreign country will depend, like every 
other commodity, on the demand and supply, and this will depend on the 
balance of 'trade between the two countries. If France sells to England 
to the amount of a million, and has bought from England to the amount 
of half a million, bills upon England will be plentiful and cheap in 
France, and bills on France will be comparatively scarce and dear in 
England. Exchange is limited by the trouble, expense, and risk of trans- 
mitting coin, for which it is a substitute. When the exchange demanded 
is higher than the risk and expense, the merchant refuses to buy a bill, 
but sends off his coin to pay the balance against him. Bills of exchange, 
therefore, are no more than contrivances to save the interest that coin 
would yield if employed at home during the interval of transmission. 

Commerce is the sale and purchase, and general interchange, of valu- 
able commodities, by which the wants of men in society are supplied. 
It is divided into the home trade, the foreign trade, and the carrying 
trade. Commerce is popularly applied to the foreign trade. The ob- 
ject of commerce is the supply to one country of the productions of an- 
other; but avarice or profit leads to speculations and competitions which 
swell commerce to an unnatural extent, cause supply to precede demand, 
and create more miseries than any other evils with which mankind were 
ever afflicted. 

Home Trade — That sale and interchange of commodities which is 
carried on at home within a nation, and where the inhabitants of that 
nation are the sole customers and purchasers. The amount of the home 
trade, even in Great Britain, is about ten times the amount of the foreign 
trade; in every other country, from ten to twelve times. At home, each 
man spends about three-fourths of his income among his fellow citizens. 
Foreigners purchase only what they are strongly tempted to buy. 

Foreign Trade — That commerce which is carried on between foreign 
nations. A merchant is employed in bringing valuable articles from a 
distant country where they are cheap, to another country where they 
are scarce and dear. A considerable benefit of foreign trade is the mutual 
communication of improvements in all things relating to the comfort of 
human existence. 

Luxuries — Any commodity purchased not necessary or expedient, ac- 
cording to the rank and fortune of the purchaser, and that occasions a 
disproportionate expenditure of income. 

Government is the term usually employed to designate and comprise the 
persons who control the legislation and constitute the executive power of a 
nation. In almost every country, what is called the government is the 
most wantonly extravagant and ill-managed establishment that the people 
have to support. This arises from mistakes in the political structure of 
the government. Mistakes, consisting in unnecessary salaries; in too much 



POLITICAL ECONOMY. 



277 



power conceded for too long a period; and in the want of means to en- 
force sufficient responsibility on the part of those who govern. The sys- 
tem of government should be as plain to be understood, and as simple 
in its construction, as possible. The agents and officers of government gain 
by mystery and complication. 




CHAPTER XXXII. 

TIMELY APHORISMS— MULTUM IN PARVO PRESENTATION 
OF THE MONEY PROBLEM. 

COMPILED BY THE AUTHOR. 

From 1873 to 1882 the nation's paying power was reduced at least one- 
third. We could no longer liquidate our debt or interest in wheat and 
cotton, and had to begin sending gold abroad, a movement intensified in 
that England has been drawing in the principal of her loans; and her net 
imports of gold have been very large. 

Increase in the value of money robs debtors. It forces them to pay 
more than covenanted, not more dollars, but more value, the given number 
of dollars embodying at date of payment greater value than at date of 
contract. Decrease in the value of money robs creditors, necessitating to put 
up, in payment of what is due to him, with a smaller modicum of value than 
was agreed upon. To have the value of money persistently the same — that 
is the central virtue of good money. 

Our national debt on September 1, 1865, was about two and three- 
quarter billions. It could then have been paid off with eighteen million 
bales of cotton or twenty-five million tons of bar iron. When it had been 
reduced to a billion and a quarter, thirty million bales of cotton, or thirty- 
two million tons of iron would have been required to pay it. In other 
words, while a nominal shrinkage of about fifty-five per cent had taken place 
in the debt, it had, as measured in either of these two world-staples, actually 
been enlarged by some fifty per cent. 

The issue of the future is already clearly presented. It is no longer 
a question as to whether we shall have free coinage at 16 to I, but it is 
the broader question of whether the nation is to be tied to a gold standard 
and receive its paper currency through the instrumentality and at the will 
of private corporations, or have for its use a national currency based upon 
gold and silver alike and controlled by the government instead of by syn- 
dicates and combinations. We must prepare for the broader issue. The 
time to begin is now, and the way to begin is to organize. — Horace Boies. 

What harm, if any, has the rise in the value of gold occasioned? I 
unhesitatingly avow the conviction that the magnitude of such harm is past 
all calculation or conception. Not to be too lengthy, I must here sum- 
marize rather than discuss. 

278 




WAX. HENRY HARRISON, ninth president, a native of Virginia, 
was born February 9, 1773. He filled many important civil and military 
positions before being elected president in 1840, for which office he had 
been defeated in 1836. He served but one month of his term, dying in 
the white house, April 4, 1841, being the first president to die in office. 
The life of General Harrison, his Indian warfare experiences, etc., are 
elaborately given in a "History of Political Parties, etc.," published in 
1895, by the author of "The Silver Side." 



TIMELY APHORISMS. 279 

The rise of gold — that is, the fall of prices, mainly consequent upon 
the demonetization of silver in and after 1873 — has had, in particular, four 
great results, each of which has been pernicious in the extreme. 

First, It has tainted with injustice every time-contract made anywhere 
in the gold-using world since 1873. 

Second, It has all over this vast area afflicted productive industry with 
anaemia, asphyxia, and paralysis, owing to which the world's wealth is today 
less by billions than it would be had normal monetary conditions been en- 
joyed. 

Third, It has split the commercial earth in two, into a gold-employing 
and a silver-employing hemisphere, between which, so great is the difficulty 
of exchange, commerce has ceased to be a rational affair and has become 
in effect a game of hazard. Thus, in another way, have the growth of 
wealth and the advance of civilization been retarded. 

And, fourth, By thus deranging international exchanges, it has dis- 
couraged and, upon a colossal scale, lessened in amount, the loaning of 
capital by rich countries to poor, indefinitely to the disadvantage of both, 
so, in still a third way, hindering the weal and progress of mankind. — 
President E. B. Andrews, Brown University. 

Tariff reform proposes to do much for the American farmer, and it 
will do much, but its benign effect in this way must be painfully restricted 
unless silver can be brought back to or toward its old time value relation 
with gold. Many wonder at Great Britain's obstinacy in refusing to do 
aught that might help on the rehabilitation of silver. The opposition of 
the creditor interest is commonly considered the cause of this. It is one 
cause, but there is another quite as strong — the determination of the entire 
non-agricultural population of Great Britain to maintain the present low 
price of wheat. This having resulted from the appreciation of gold, Lord 
Rosebery and his followers see that, were silver to be reinstated, wheat 
prices would considerably advance. — Ibid. 

To say that the quantity of money regulates prices is only the same 
thing as to say of any article that is bought or sold, that its quantity is a ma- 
terial factor in determining its value. 

England demonetized silver in 1816, and yet from that period to 1873 
the parity of the two metals was not affected; we did not need her then, 
and ive do not need her now. 

Bimetallism, for which the people plead, is no new thing. For 
thousands of years, it has been the prevalent money system of the world. 
Under it nations have grown and prospered. Gold standardism, on the 
other hand, is comparatively an experiment. It is only within the present 
century that any modern civilized country had adopted it, and only within 
the past 25 years that it has become the prevailing system of Europe. 
For 81 years it was the policy of the United States, and under it took place 



280 THE SILVER SIDE— Campaign Text-Book. 

our greatest progress. It has repeatedly been declared to be the policy of the 
Republican party. 

A mercenary interest has long sought to dominate the politics of 
this country for its own unrighteous ends. It undoubtedly instigated the 
demonetization act of 1873. It controlled to the full the administration of 
President Cleveland. 

The cause of the bitter feeling of which we hear so much is no doubt 
traceable to the hard times, and the intense anxiety business men are 
under. That they should feel angry when creditors press for payment 
and nothing can be collected from customers is natural and excusable, 
but still they should not forget that the cause of their trouble is the hard 
times brought about by the endeavor of the country to maintain a false and 
precarious monetary standard, and not to any newspaper discussion. The 
hard times long antedated the St. Louis convention or any agitation of the 
money question, and can only be attributed to the insane attempts of the 
administration to uphold a gold standard with all the brokers of Wall 
street fattening on the government necessities resulting therefrom. 

If it should be charged that discussion of the money question has inten- 
sified the hardness of the times, it should also be recollected that the whole 
responsibility for the agitation rests with the St. Louis convention. Had it 
not vitally changed the policy of the party the money question would scarcely 
have been heard of. The people would have been content to leave the reform 
for the party to deal with after it should come into power, confident that it 
could be trusted to deal with it wisely and in good faith. Had but the 
Minneapolis platform been reaffirmed at St. Louis Mr. McKinley would 
have had a walkover and his election would have been almost as unanimous 
as was Franklin Pierce's, in 1852. 

It will appear strange to the future reader of history that a great 
political party should make so great a blunder as to abandon a popular 
measure for the very policy which made Mr. Cleveland's administration so 
unpopular. 

The gold standard has never brought prosperity to any country 
on this earth, and never will. It has ruined agriculture and enslaved labor 
throughout the world, and will continue to do so until it is uprooted. — J. B. 
Weaver. 

If all of our money were standard it would undoubtedly be more 
effective than it is now, because it would all be available for all purposes. 
A run upon the treasury would be impossible, and the people could not 
be loaded down with hundreds of millions of dollars' debt for no other pur- 
pose than to keep a certain amount of one particular kind of money in the 
treasury. 

In fact, no reserves at all for redemption purposes would be required. 



TIMELY APHORISMS. 281 

It would only be necessary for great moneyed institutions to keep funds 
sufficient to meet current expenses and pay their debts as they came due. 

If silver were restored to the position of full standard money it would 
soon double and more than double the quantity, thus not only adding directly 
to the total amount, but enabling us to safely carry much more of credit 
money, and affecting prices in both ways. 

A monetary system which consists of a small stock of standard money 
(say gold) and a large amount of other currency adjusted to it and subject 
to redemption, is the very reverse of "sound." It is absolutely "unsound," 
and a moment's reflection will enable any person of ordinary intelligence 
to see it. The moment the supply of redemption money runs short the great 
financial centers are thrown into a fright, credit is shut off, business is cur- 
tailed, prices fall, and the effects are felt all over the country. We are 
hardly up to the point of dispensing with credit money altogether, but we 
can at least broaden the base of primary money by the complete restora- 
tion of silver. 

Baron Rothschild, in 1887. 

United States Minister Pierrepont suggested to the baron "that a single 
gold currency was more stable than one composed of gold and silver. 

The baron replied that the contrary was the fact, and cited England 
and France in confirmation of his statement, that where there was but a 
single standard the fluctuation was larger; that when gold was drawn from 
England to the continent for any cause all the solicitude concentrated upon 
the single gold standard; gold being the sole legal tender and no one know- 
ing to what extent it would be drawn away, all the panic and alarm fell upon 
it, but with a double currency like France, if gold was drawn to England 
it caused no panic in France, because she had a large reserve of legal tender 
silver upon which she could fall back, and which of course would not be 
drawn to a gold country; and he repeated that a bimetallic currency was 
more stable than a single currency. 

Bimetallism is the right to use either gold or silver as primary 
money. Under such a law, if our trade relations or the laws 
of other nations take our gold away, we have silver, and no 
serious injury occurs. And the same saving principle applies if 
our silver should leave us and gold remain. The two together 
furnish a more stable supply of money material than either alone can furnish. 
With only one for money, the contraction and expansion of the world's 
supply, alternating as they will, make an uncertain and unstable currency. 
Under free coinage of both metals, gold could not do as it is doing now, 
threaten the credit of the nation, silver being in competition with it. 

We believe that bimetallism, that relies on two metals for money, is 
better than one that relies on one metal only. — W. H. Harvey, "Coin," 
in 1896. 



282 THE SILVER SIDE— Campaign Text-Book. 

A Critical Period, 

Not a day, not an hour, is to be lost in the herculean task that lies 
before us. In the next four years is involved the fate of the human race. 
Mankind is now at tne apex of the present form of civilization. We are 
either to go back to an eternal midnight, or we are to go forward to a 
higher plane of civilization. If we lose in 1900 the chances of our ultimate 
success are immeasurably reduced; despotism will be attempted to be 
fastened upon us and a standing army that will have no interest in life 
except the pay received from its masters will, if the attempt succeeds, stand 
guard over the people, while the latter are "lawfully" robbed by a class 
whose agents will hold the reins of power. 

And despotism fastened upon the United States means the extinction 
of human civilization in the world. It means that the United States will 
be the crater of a human volcano, and crumbling civilization, that in time, 
though a thousand years may elapse in the interim, will bring the race that 
inhabits its soil to the condition of Turkey and China. And in time our 
race will join the prehistoric races that have inhabited the earth. 

The people of this country, by custom, have largely become almstakers. 
They look for the national committee to furnish them literature free. Speak- 
ers swarm the committee rooms, or tender their services by letter, seeking 
compensation for their speeches at from $10 to $500 a speech and expenses. 
As a rule, men who expect compensation in return, in the way of legisla- 
tion, furnish the money to pay the speakers and to buy the literature. In 
other words, syndicates, pools and combines that expect to infest congress 
with their jobs, and otherwise make money through legislation, find it 
profitable to contribute to the campaign fund. 

No Intrinsic Value. 

If "intrinsic, inherent value" existed, the thing or things which possessed 
it could, at all times and places, always be exchanged for an equal amount 
of value in other things. This cannot be done; the purchasing power of 
everything depends on conditions, and therefore there is not now, never has 
been, and never can be, any such thing as "intrinsic value." Gold does 
not possess a particle of intrinsic value for the simple reason that intrinsic 
value is an impossibility. If an ounce of gold possessed an "intrinsic" value, 
the discovery of huge mountains of fine gold would not in the least affect 
its value. On the other hand, if the value of gold were intrinsic, no matter 
how small the amount of it in human hands, nor how great the demand for 
it might be, each ounce of gold would be worth no more than if ten millions 
of tons of gold were in use. 

What is true of gold is true of silver, and of every other commodity 
in existence. The forces which create, increase and diminish value apply 
impartially to all objects of commerce. Gold is not exempt from the same 
laws which give value to lead, iron, and everything else which is the 
subject of barter and sale. Under ordinary conditions, the operation and 



TIMELY APHORISMS. 283 

result of these laws is to endow all the objects of human desire and com- 
merce with more or less value; but what the amount of that value shall be 
depends upon circumstances and conditions. 

If France was able to maintain the parity of gold and silver by the free 
coinage of silver at the ratio of 15^ to 1 between 1803 and 1870, when 'there 
were thirty times the weight of silver in coin and silver available for coin- 
age in the world that there was of gold, certainly the United States, 
immeasurably greater than France was during that period, can maintain 
the parity of the metals at the ratio of 16 to 1, when there are only sixteen 
times as many ounces of silver in the world's stock as gold. 

It is a fact with which every man who presumes to discuss the silver 
question ought to be familiar, that for the whole year 1872 — the year before 
it was demonetized in the United States — it was worth $1.32^2 per ounce, 
which made the bullion value of the silver dollar 103 cents in gold. On the 
very day of its demonetization it was worth more than the gold dollar. 

I am clearly of the opinion that gold and silver, at rates fixed by 
congress, constitute the legal standard of value in this country, and that 
neither congress nor any state has authority to establish any other standard, 
or to displace this standard. 

(Extract from speech of Daniel Webster, delivered in the senate of the 
United States, December 21, 1836.) 

The fact that the railroads, telegraph and telephone companies became 
the willing tools of a campaign committee in the recent election, furnishes 
us with a striking argument for the government ownership of these great 
monopolies. We are not a free people so long as they can be utilized for 
campaign purposes in the interests of trusts and combines. 

The American bimetallists do not want a silver standard; that is merely 
something which the opposition say they want. They want the bimetallism 
which, for thousands of years, had the unquestioned allegiance of the best 
portions of the globe. They want the bimetallism which satisfied our 
American ancestors for almost one hundred years, and awoke no murmur of 
dissent. They want the bimetallism which today has the support of the 
greatest economists of the world. They want the bimetallism concerning 
which, on May 9, 1894, Henry Cabot Lodge said: "Every member of 
the senate, representing, as I believe, the overwhelming, if not the absolutely 
universal opinion of this country, believes in the use of both the precious 
metals as money." They want the bimetallism which the people want; the 
bimetallism which went down in 1873 without a word of warning, without the 
people's vote. The day of such bimetallism is fast approaching — more 
swiftly and surely than ever the friends of the silver dollar realize. It is 
right upon us — the day when America will be America still, and China will 
still occupy the orient. 

But the gold advocate says, "Neither will the remonetizing of silver, 
making dollars more abundant, add anything to the world's real wealth." 



284 THE SILVER SIDE— Campaign Text-Book. 

Right there his philosophy is at fault. In the first place, a just and equitable 
cheapening of money will deprive the strictly moneyed classes of the unholy 
advantage which they now possess, and divide wealth more equally, by 
giving the debtors and producers a larger share of it than they are now 
getting. In the second place, by raising prices and increasing profits, it 
will encourage and stimulate production, thus adding enormously to its 
aggregate, and making the world, as a whole, vastly richer. The gold 
champion insists that overproduction is the cause of the trouble, and all sorts 
of schemes- are proposed by which production may be limited. Just how 
production can be limited without checking the increase of the world's 
wealth, no gold standard economist has ever yet undertaken to explain. And 
yet it is the only remedy suggested by the friends of that system. 

The gold standard will give England the commerce of the world. 
The bimetallic standard will make the United States the most prosperous 
nation on the globe. — Wm. B. Allison, in Congress, January 13, 1891. 

We ran up old glory in a hurry to protect American property in 
Hawaii; we daren't protect American silver in America. 

We daren't spread Old Glory in the face of England and say we will 
coin our own metal in accordance with our own constitution. 

Never before in the history of the world has the humiliating spectacle 
been presented of any nation virtually asking the consent of another nation 
in regard to the coining of its own money. 

England demonetized silver in 1816 and yet we maintained our bimetallic 
system until 1873. Have we Decome less able to assert ourselves under the 
policy of the last 23 years? If we have that is good and sufficient cause for 
demanding a new deal. 

We are now adopting the gold standard coin, the ally of England in 
the most cruel and unjust persecution against the weak and defenseless 
people of the world that was ever waged by tyrants since the dawn of 
history. 

Whenever property interests and honesty have come in conflict, England 
has ever been the enemy of human liberty. All reforms with those so 
unfortunate as to be in her power have been won by the sword. She yields 
only to force. 

When money rises products fall. When money falls products rise. 
These are statements no one can deny. The amount of standard legal tender 
money in circulation determines the price of all commodities. That is the 
quantitative theory and the correct theory. — Senator Teller. 

The foreign moneyed interest center in the city of London. That in- 
terest acts as one mass. Its influence is very great. Perhaps, in the long 
run, it is irresistible; our cities and financial centers all obey it. We have 
a monometallic gold currency today. We have no prospect of getting rid of 
it. Our submission to the moneyed interest of England has been silent, 



TIMELY APHORISMS. 285 

but it has been abject. We were told to destroy silver because it was 
a mark of our independence, and we did so for no other reason than to 
remain in the moneyed system of England. — Senator Cameron. 

Unorganized poverty can never win a battle with organized riches. The 
gold-fortified minority has thus far been enabled not only to organize its 
own forces, but by able leadership to disorganize and disintegrate all oppo- 
sition. They have already laid their plans for 1900. They have every 
weapon which money can buy or wealth control. If anything has been 
overlooked they will grasp it in the near future. They have the metropolitan 
press, the great news associations, the railroads and express companies, the 
banks, the giant corporations, the courts and, alas, the greater share of the 
pulpit. 

Honest co-operation is the grandest weapon of civilization, and by it 
the republic can be saved and the cause of humanity made triumphant. 

The value of money, other things being the same, varies inversely as its 
quantity; every increase of quantity lowering the value, and every diminution 
raising it in a ratio exactly equivalent. 

In other words, the more money in a country the greater the prosperity. 
Or, as Hume stated it, "in every kingdom into which money begins to flow 
in greater abundance than formerly everything takes on a new face; labor 
and industry gain life, the merchant becomes more enterprising, the manu- 
facturer more diligent and skillful; even the farmer follows the plow with 
greater alacrity and attention." Or, as the "honest money" New York 
Times prophetically put it a few days ago: "The currents of trade, set in 
motion by new investments, will stir business into life, as the rain upon 
parched land makes vegetation stir and shoot up. There will be more money 
paid out for wages every week, and this in turn will increase consumption 
and augment demand. Raw materials will be called for in greater volume, 
and the output of manufactures will increase. This new activity will swell 
the earnings of railway and industrial shares." 

You increase the value of all property by adding to the number of 
money units in the land. You make it possible for the debtor to pay his 
debts, business to start anew, and revivify all the industries of the country, 
which must remain paralyzed so long as silver and all other properties are 
measured by a gold standard. 

Speaking in the house of representatives on February 7, 1878, Mr. 
Blaine said: "I believe the struggle now going on in this country and 
other countries for a single gold standard would, if successful, produce wide- 
spread disaster in and throughout the commercial world. The destruction 
of silver as money and the establishing of gold as the sole unit of value must 
have a ruinous effect on all forms of property, except those invested which 
yield a fixed return in money. These would be enormously enhanced in 



286 THE SILVER SIDE— Campaign Text-Book. 

value and would gain a disproportionate and unfair advantage over every 
other species of property." 

But in 1873 we most unwisely demonetized silver, following the policy 
of Germany and Great Britain. This coincident action on the part of 
Germany and the United States, closing the mints of both countries by 
law to the free coinage of silver, forced France and the other states of the 
Latin union to adopt the same policy, and thus in three short years silver 
was outlawed by the concurrent legislation of these commercial countries, 
That it went down and down in value compared with gold was a logical 
result, and, but for the beneficiary legislation of 1878, and the conferences 
inaugurated by that legislation and the discussions that followed in 
Europe, as well as in our own country, the followers of the gold standard 
would have triumphed permanently. 

The rate at which money exchanges for other things is determined 
by its quantity. * * * Supposing the amount of trade and mode of 
circulation to remain stationary, if the quantity of money be increased, its 
value will fall and the price of other commodities will proportionately 
rise, as the latter will then exchange against a greater amount of money; 
if, on the other hand, the quantity of money be reduced, its value will 
be raised, and prices in corresponding degree diminished, as commodities 
will then have to be exchanged for a less amount of money. * * * In 
whatever degree, therefore, the quantity of money is increased or diminished, 
other things remaining the same, in that same proportion the value of the 
whole and of every part is reciprocally diminished or increased. — Dr. 
Colange. 

Before 1873, silver as well as gold had for centuries been full 
money in all the important nations of the world. It is true England, 
in 1816, changed her laws so that silver was not a full legal tender, but 
payments could be made just the same, because France, near by, would 
receive it in settling her balances with that nation. 

What We Must Do to Win. 
It is firmly believed by bimetallists, and is generally feared by gold 
monometallists, that those believing in bimetallism form a great majority 
of our people, and that if all bimetallists will unite on a common plat- 
form and a common candidate, they will sweep the country. It is, there- 
fore, our first and most important task to unite our forces, so that the 
votes cast by those believing that prosperity is bound up with the restora- 
tion of bimetallism, be not scattered and our voting strength wasted. Let 
the motto be: "United we stand; divided we fall," rallying cry of the 
patriots of 1776. — Wharton Barker. 

One thing can be depended upon, there can possibly be no reduction 
of the misery and poverty now so prevalent as long as laws exist that 
enable corporations and combinations of capital to conspire for the 



TIMELY APHORISMS. 287 

exploitation of the masses. There can be no" millionaires without their 
corresponding thousands of paupers. When one man becomes fabulously 
rich, 10,000 must succumb to the ravages of poverty. 

Whoever controls the volume of money of any country is absolute 
master of all industry and commerce. — James A. Garfield. 

That prices will rise or fall as the volume of money be increased or 
diminished is a law as unalterable as any law of nature. — Professor Francis 
Walker. 

To annul the use of either metal is to abridge the quantity of circu- 
lating medium. — Alexander Hamilton. 

Gold is every day appreciating in value. — Lord Beaconsfield. 

The abundance of money in banks is by no means a guaranty that 
the social requirements for money are adequately supplied. 

Liberty. 

'Tis liberty alone that gives the flower 
Of fleeting life its lustre and perfume, 
And we are weeds without it. 

Happiness. 

All who would win 

Must share it — happiness was born a twin. 

Lives of heroes have enriched the pages of history and history has 
immortalized their fame. 

Labor relieves us from three great evils: Indolence, Vice and Want. 
Money is as blood and life to man. 

This country will not help Cuba so long as Wall street has anything 
to say about it. 

It is not satisfaction to any citizen to be told there is money enough in 
the country, but it is locked up. It is not grateful information to the 
man who has 25 cents to be told that he and a Vanderbilt between them 
have $50,000,000.25. 

Who overcomes by force has overcome but half the foe. 

Bimetallism means prosperity ; 
Gold monometallism, ruin! 

Property is standing still or going down; gold is going up. 

The property of the money lenders — notes, bonds and mortgages- 
does not shrink. The mortgage will eat the property owner up. 

The value of money in any country is determined by the amount exist- 
ing. That commodities should rise or fall in price in proportion to the 



288 THE SILVER SIDE— Campaign Text-Book. 

increase or diminution of money is assumed as a fact that is incontro- 
vertible. — Ricardo. 

We have seen, however, that even in the case of metallic currency the 
immediate agency in determining its value is its quantity — Principles of 
Political Economy, Vol. II., page 89. Jno. Stuart Mill. 

If the quantity of gold in a country, whose currency consists of gold, 
should be increased in any given proportion, the quantity of other articles 
and the demand for them remaining the same, the value of any given com- 
modity measured in the coin of that country would be increased in the 
same proportion. — William Husskisson. 

Money, while the same quantity of it is passing in trade, is really 
a standing measure of the falling and rising value of other things, in 
reference to one another, and the alteration in price is truly in them only. 
But if you increase or lessen the quantity of money current in traffic in 
any place, then the alteration of value is in the money. — John Locke. 

It is not difficult to perceive that it is the total quantity of the money 
in circulation in any country which determines what portion of that 
quantity shall exchange for a certain portion of the goods o- commodities 
of that country. It is the proportion between the circulating money and 
the commodities in the market which determine the price. — David Hume. 

If the quantity of purchasable articles increases, while the quantity 
of money remains the same, the value of the money increases in the 
same ratio; if the quantity of money increases, while the quantity of 
purchasable articles remains the same, the value of the money decreases 
in the same ratio. 

The exchange value of any particular coin will vary in exactly in- 
verse ratio to the variation in quantity of the aggregate. — Principles of 
Political Economy. 

In early days of the Pacific coast, flour sometimes sold for $100 a 
sack, bacon for $1 per pound, and onions for 10 cents apiece. It was simply 
because gold was plentiful and the other things scarce. 

Working people move the world from center to circumference. Labor is 
stored up capital. 

The right to live is inherent in every man, and the right to earn a 
living should not be abridged. 

For most of the facts on silver, gold and bimetallism given in this 
chapter, the author is indebted to the National Bi?netallist. 

It is a fixed law in the science of money that when both metals are 
primary money — whether at the time seeking the mints or not, and whether in 
circulation or not — bimetallic prices prevail. 



TIMELY APHORISMS. 289 

Tis slander whose breath rides on the poisonous winds, and doth 
belie all corners of the world. — Cynbeline. 

Those who plot the destruction of others often fall themselves. — Latin 
proverb. 

Corrupted freemen are the worst of slaves. — Garrack. 

Bimetallism is necessary to real prosperity in this country. 

Wealth; he that hath more than enough is a thief of the rights of 
his brother. — Tupper. 

All men are created equal. They are endowed by their Creator with 
certain inalienable rights. Among these are life, liberty and the pursuit 
of happiness. — Declaration of Independence. 

We live in deeds, not years; in thoughts, not breaths; 
In feelings, not in figures on a dial; 
We should count time by heart-throbs. He most lives 
Who thinks most, feels the noblest, acts the best. 

Civil and religious liberty will always be the keystone in the arch 
of ouf hopes and aspirations. Political liberty and religious freedom are 
the corner stones of the common people. 

Neither let us be slandered from our duty by false accusations against 
us, nor frightened by menaces of destruction to the government, nor 
dungeons to ourselves. Let us have faith that right makes might, and in 
that faith let us to the end dare to do our duty as we understand it. — 
A. Lincoln. 

Let not dollar marks supplant the stars on the heavenly blue of Old 
Glory, nor the glitter of gold replace the crimson bars of martyr blood, 
nor the sheen of silver outshine the pure white of patriotic devotion.— 
J. W. Muffly. 



CHAPTER XXXIII. 

SOME LOGICAL COROLLARIES 

BY CAPT. J. W. MUFFLY. 

It is doubtless true that in the minds of the best informed advo- 
'cates on both sides of the money controversy, certain resultant 
propositions in the nature of corollaries to the main problem are 
the really potential factors in the contention. 

Thus on the gold standard side the (supposedly) main proposi- 
tion is that gold is the one only substance of which real money shall 
be made. That all other currency shall be of the nature of a promise 
to pay money and its value dependent upon its redeemability in 
gold. 

An Incapable Redeemer, 

There is no pretense that the amount of gold available for coin- 
age in the nation or in the world is sufficient for the actual redemp- 
tion of the entire volume of ''money of account necessary" for cur- 
rent exchanges of commodities, nor is there any respectable pre- 
tense that this inadequacy may not, in cases of emergency, become 
evident in the depreciation or even the repudiation of the cur- 
rency promises. 

Yet it is claimed that only upon this theory can money be made 
and kept good. That only those who hold this view are in favor of 
"sound money," and that all who oppose this view are for "cheap 
money, poor money, rotten money." 

It is not proposed here to discuss this main proposition except 
so far as it is necessary to establish the logical legitimacy of cer- 
tain corollaries which this paper is to consider. 

The Gold-Standard Theory— Independent of Law. 

The gold standard theory must be predicated upon the doctrine 
that money is a commodity, a product of labor, its value a commer- 
cial inherent quality (intrinsic) determined by the amount of labor 
expended in its production and by the supreme laws of commerce. 
That government should have no function in the matter except to 
coin it for its owner, that the act of coining has no effect, philosoph- 
ically considered, except to ascertain and certify its weight and fine- 
ness, a theorv stereotyped in the very common statement. "The 

290 




r-JP^Tv; J°SEPH W MUFFLY, born 1840, in Pennsylvania; edu- 
cated in the public schools and Rock River Seminary. Taught school 
na°rv i860 to°T^ 9 ' ^ w ^V tud A ent in Williamsport Dickinson Semi- 
S uS T p 61 - ^ e enllSte ? m Au S ust > l862 > in th e One Hundred and 

*orty-eignth Pennsylvania volunteers; served as private, sergeant major 
adjutant and as A. A. A. G., Fourth brigade, First division, Second AC 
^M 1 C , ksb 7 t0 Pete T r T sbur S> until April, 1865. He is a graduate of 
the Northwestern Business University. Founder and principal Iowa Busi- 
ness College, 1865 to 1872 Deputy clerk, district cour?, Polk County four 
?™i % Commander Cr ° cker Post > G - A ' R " arid assistant adjutant gen- 
eral of the Iowa department two years. Has been recorder of the Iowa 

pSSSJfon 17 W g " SinCC l893 ' He iS an accou "tant by 






SOME LOGICAL COROLLARIES. 291 

stamp of the government adds nothing to the value of the metal." 
That it originates with the individual, is his personal commodity. 
That it is money independent of law and would be money without 
law, only so its weight and fineness be placed beyond question. 
That the attempt of government to fix, regulate or control the 
value of a commodity (gold or silver, wheat or iron) is an attempt 
to control the "laws of trade" is inoperative, incompetent, a delu- 
sion and an impertinence. 

That all usury laws are an invasion of personal rights and against 
public policy. 

The Legal Tender Act. 

That the legal tender act of February, 1862, was a violation of 
sound money principles, and if not actually unconstitutional and 
void, at least justifiable only on the ground of a great emergency 
and a state of war. That certainly the phrase which declares in 
relation to the legal tender issue, "And the said notes, when so 
issued shall be lawful money" was a dreadful mistake, showing the 
awful ignorance of congress in regard to sound money principles. 

I think no one will deny that this is a fair statement of the under- 
lying claim of the gold standard contention, easily demonstrable 
from both logic and evidence. Let us see what inferences may 
fairly be derived in the way of logical and necessary corollaries, 
for parties must be held to the defense and maintenance of all legit- 
imate and proper outgrowths of their fundamental proposition, and 
it is the design of this paper to state these outgrowths, or several 
of them, whether admitted by platform declaration or not, and aim 
to show their necessary connection and in some measure forecast 
the effect of their adoption. 

What Must Follow. 

It is claimed then that the adoption of the principles involved in 
the single standard, gold, would require as necessary corollaries: 

First. An amendment to the constitution which would strike 
out the words, "Congress shall have power to coin money and reg- 
ulate the value thereof, and of foreign coins," and insert "Congress 
shall coin gold for any citizen free of charge in pieces of (say) 
twenty-five, fifty, one hundred, two hundred, and five hundred 
grains, and shall stamp upon each its weight and fineness. . 

Second. Amend the constitution by striking out the words, "No 
state shall emit bills of credit or make anything but gold and silver 
a legal tender in the payment of debts," and provide instead, 
"Neither congress nor any state shall declare anything to be legal 
tender for debts." 

This, because the gold standard argument teaches that men in 
trade do not accept in exchange for their commodities anything 



292 THE SILVER SIDE— Campaign Text-Book. 

which they do not consider of equivalent value, they accept what 
they choose and the law does not attempt to compel them to do 
otherwise. If it be wrong, impolitic or impracticable to force any 
one to accept any given thing for his goods sold today, is it not 
equally wrong, impolitic and impracticable to force him to accept 
the same thing in payment for his goods sold last week or last year? 

Third. Revise the coinage laws so as to conform them to the 
commodity theory. This will require the dropping of all such pro- 
visions as that "Every such eagle shall 'be of tlie value of ten dollars ,' 
or of any other enactment attempting to create, fix or regulate 
the value of a commodity. 

Fourth. Repeal the Matthew's resolution which declares that all 
obligations of the government are payable in silver dollars of 412J 
grains. 

Fifth. Retire the 346 millions of war greenbacks, which ought 
to have been redeemed and destroyed January 1, 1879, as expressly 
provided for in the resumption act of 1875, which has never been en- 
forced, having been practically repealed by legislation, forbidding 
their destruction and authorizing their re-issue. Redeem all other 
currency obligations of the government, murder your best friend 
as Honorius murdered Stilicho, the Jews Christ and Booth Lin- 
coln. 

Sixth. Repeal all usury laws upon the statute books of all the 
states. This will remove a "mischievous restriction upon the free- 
dom of contracts and attract 'foreign capital.' " 

Seventh. For the redemption of the greenbacks, treasury notes, 
"Sherman" notes, silver certificates and other currency obligations 
all now redeemable, under the law, as explicitly set forth in the 
Matthews resolution, in silver dollars, which, it is claimed is re- 
pudiation, there should be issued some thousand million of gold 
bonds. 

The Gold Standard Fully Established^Then What? 

With these reforms effected the gold standard will be fully estab- 
lished with all needful and logical outgrowths and there will remain 
but one more step to perfect the ideal "sound money policy." 

"The government must now go out of the banking business," and 
the banks must go into the governing business. Abolish the office 
of comptroller of the currency, "Money is a commodity," govern- 
ment is to have no function in the matter. The people must now 
take care of themselves in the matter of currency supply. Close up 
the bureau of printing and engraving except only the bond depart- 
ment. 

Government by the Bank* 

Revise the National bank law. Repeal all objectionable and 
embarrassing restrictions. Bankers are the proper conservators 



SOME LOGICAL COROLLARIES. 293 

of financial interests. They know how much money is needed 
and will always supply all proper demands. Provide that they shall 
simply keep in their vaults government bonds of the face values of 
their issues; depositors must look out for themselves as they have 
always done; all that is needed is an inspection by a government 
expert twice a year or once a quarter and the people can easily 
endure such failures as are likely to occur from time to time, and the 
saving to the government by doing away with the present method 
will be enormous. Certainly if the government is to be effectually 
divorced from the banking business, it will not be claimed by any 
consistent reasoner that it shall continue to print the promises of 
the banks and guarantee their redemption. The plea for the abso- 
lute control by the banks of the entire field of currency — a corollary 
more potential in the motive of the gold standard advocates than 
the main proposition, and one which is the key to the tremendous 
power arrayed on that side — is usually reached by a course of reason- 
ing similar to what I have just outlined; but in order that "all roads" 
may be shown "to lead to Rome," a very remarkable article has just 
appeared in the April Forum over the signature of Allen Ripley 
Foote. The article is a plea for a settlement of the question by arbi- 
tration. It argues in favor of a "money of account, by means of 
which all commodities are transformed into dollars," and inciden- 
tally condemns the policy of basing all money on gold and (even) 
silver. But all the same he lands us in the financial elysium of issue 
banking. To quote: 

The cause of suffering experienced from lack of currency with which to 
promptly effect all desired exchanges of commodities at a& agreed price 
value originates in legislation which deprives the people of the right to use 
the current value of their commodities as a basis for the currency required. 

Instead of issuing currency on the broad foundation of the value of 
all commodities, the basis has been narrowed by false legislation to but two 
commodities, gold and silver, which are produced by a few people. In this 
way the people have been deprived of the facilities and benefits derivable 
from the free use of the most effective form of monetary instruments of 
exchange — bank note currency based on quick assets. 

This is a rare specimen of the "non sequitur." 

Populist Argument to Sustain a Free Banking Conclusion 1 

The argument is sound; the conclusion monstrous. It is the 
same old financial heresy, the same confidence game, which under- 
lies all issue banking. Here is the plain A B C of the scheme. The 
people should use the value of their commodities as a basis for 
currency. To do this they must hypothecate the title to their 
commodities as collateral to a banking corporation. L T pon these 



294 THE SILVER SIDE— Campaign Text-Book. 

securities the bank should issue currency, which the people will 
borrow at legal rates of interest. That is, go in debt for the use 
of your own property. Borrow your own credit and pay the other 
fellow for its use. Guarantee the payment of your neighbor's non- 
interest-bearing note and then borrow it from him at 8 per cent, 
interest. 

Control of Currency the Real Motive. 

The control of the circulating medium, a system of finance which 
creates a debt for every dollar of credit currency, this tremendous 
power by which the dealers in credit are able to dominate all pro- 
duction, trade and investment, this is the vital, potent energy of 
the gold propaganda. And this purpose is as relentless in tenacity 
as it is unscrupulous in method; tyrannical in operation and destruc- 
tive in effect. 

A Life and Death Struggle. 

Unfortunately for the people, the advocates and beneficiaries of 
this robber theory understand perfectly its prodigious possibili- 
ties for transferring the products of labor and the profits of trade 
from the people to whom they rightfully belong to a small class 
of dealers in credit, who have no hand in actual industry or trade, 
and they are waging a life-and-death struggle against the oncoming 
tide of reform and popular right. 

"All the energies of centuries of power, all the despotism of 
capital," all the effrontery of falsehood, the plausibility of soph- 
istry, the power of political and social ostracism are arrayed in 
detense of the^tottering citadel of money monopoly. 

There is *o history which they will not pervert, no platform 
declaration they will not reverse, no party record they will not 
belie, no public utterance they will not retract, no honored states- 
man they will not seek to corrupt, no prosperity they will not de- 
stroy, and no calamity they will not inflict to maintain the supreme 
rule of greed. All this was illustrated with searchlight distinctness 
m the presidential campaign of 1896. A great political party 
turned its back upon all its past and deliberately reversed all its 
declarations upon a most vital question. All of its great leaders 
who did not abandon it were compelled to retract their most 
solemn and oft-repeated declarations against the single standard, 
their candidate at the head of the list. 

A Campaign of Deception and Slander. 
Their campaign was a concrete deception, an abstract per- 
version, and the demagogue was rampant. If any one question the 
justice of the arraignment, let him take testimony from the gold side. 
Mr: Henry King, now editor of the St. Louis Globe- Democrat, in 
a letter published in that paper a few weeks after the election, said: 



SOME LOGICAL COROLLARIES. 295 

The idea that the defeat of the free silver movement imposes an 
obligation to consider the popular discontent which made it so formidable 
is evidently not taking root in the minds of candid and capable students 
of the situation. In other words, now that the election is over and cam- 
paign necessities are no longer supreme, men who did good service on the 
gold standard side are willing to concede that the clamor for cheap 
money was a symptom, and that the disease thus indicated still remains, 
to be dealt with as a difficult problem or series of problems. It is not 
true that any considerable number of those who voted for Mr. Bryan 
were inspired by dishonest and unpatriotic views and purposes, and it is 
time to quit talking about them in that false and offensive way. Whatever 
the truth may have been, they did not believe that they were favoring 
repudiation, or any other discreditable process, and they are entitled, as 
American citizens, to recognition of their good intentions, no matter how 
sure we may be that they were wrong, both politically and morally. It 
will not do to suppose that they deliberately sought to perpetrate a gi- 
gantic swindle and to involve the country in an enormous catastrophe. 
We can rejoice that they were beaten, and yet not treat them as arrant 
knaves and public enemies. 

It is not conceivable that over 6,000,000 men, representing all classes, 
more or less, went to the polls and voted a given ticket simply because 
they liked silver better than gold, or because they were eager to cheat 
somebody, to destroy values, and to prevent general prosperity. Very few 
of them, comparatively, had any personal interest in the silver mining in- 
dustry; the most of them were residents of states in which that inducement 
did not exist. 

Could anything be more humiliating than this confession? He 
might as well say: 

We made a campaign of falsehood and slander of our fellow citizens. 
We elected our man by misrepresentation. The gold standard support was 
composed of knaves and dupes. I was one of the knaves, and I am 
now making my confession. 

Campaign necessities supreme! 

You will find no such degrading admission on the part of the 
silver men. They stand ready today to avow every word ut- 
tered on the stump and in their press. They retract nothing, 
modify nothing, make no apology. They told the truth, and are 
now in a position to meet the victims of Hannaism with the 
cheerful greeting, "Didn't we tell you?" 

The lofty and oracular utterances of some of these people assum- 
ing that this question was settled by the election of 1896 deceives no 
one. Assurance is well enough, but it may go too far and the 
superlative fool is the one who assumes that he can fool every- 
body except himself. No truth of today is so self-evident as that 



296 THE SILVER SIDE— Campaign Text-Book. 

the "money question" is the living, all-absorbing issue in American 
politics. That Mr. Bryan's choice of a title for his book epitomizes 
in a phrase the true character of the last election: "The First 
Battle." 

Skirmishes on the line of money reform began in 1876. Look 
at the record. 

Geometrical Progression of the Money Reform Vote. 

Peter Cooper vote in 1876 81,740 

Weaver vote in 1880 307,306 

Weaver vote in 1892 1,041,028 

Bryan vote in 1896 6,508,681 

If the advocates of scarce money and banker government can 
find any comfort in these figures, they are welcome to make the 
most of them, but they will do well to begin their rejoicing early 
and keep it up vigorously, for their time is short. 

The geometrical progression of the figures is the sure augury 
of better things. The silver propaganda of the Bryan campaign 
was a national university of economic education. The utter failure 
of restored confidence so glibly prophesied as the immediate re- 
sult of a gold standard victory is leading thousands of men seriously 
to wonder if they did not make a great mistake last fall. 

The continued lassitude in trade, idleness of laborers, ruinous 
prices of farm products, closing of industries, lowering of wages, 
slow collections, for all which the gold standard, so far from being 
a cure, is the very cause, are opening the eyes of thousands more 
who are unwilling to listen to argument. These conditions are 
just as sure to continue as effect is to follow cause. More than 
six million brave, patriotic souls compose the silver army of the 
United States, every one of whom is a missionary in the cause, 
and their labors are supplemented by the resistless logic of events 
which alone would finish our work for us. 

Japan and the Gold Standard. 

Just now plutocracy is pointing with insane glee to Japan. 
Yes, what of Japan? Simply this. Japan is the latest victim of 
British gold bondage. A debt of a thousand millions negotiated 
by British capitalists on condition that she adopt the gold standard. 
And Japan, just emerging from obscurity and insignificance, with 
the promise of a new life and a respectable place among the 
nations, has been smitten with the blight of British greed and her 
bright hopes must perish. 



SOME LOGICAL COROLLARIES. 297 

The Quartette of Doomed Nations. 
Portugal, Egypt, Turkey, Japan. That is the quartette of 
doomed nations bound with chains of gold to the juggernaut of 
British gold slavery. Look at the figures: 

Portugal 750 millions 

Egypt 540 millions 

Turkey 900 millions 

Japan 1,000 millions 

A Costly Junket. 

And we are to spend a hundred thousand dollars in a junketing 
commission to Europe to ask Great Britain to unite with us in 
a policy which will deprive her of the supremacy by which she is 
able thus to enslave one nation after another — this in order to 
carry out the hollow mockery of the St. Louis platform, to redeem 
the hypocritical pledge of a political party to try and induce other 
nations to join with us in doing a very wrong, impracticable and 
dishonest thing, which those nations have distinctly informed us 
they will never agree to. 

The reaction is setting in with resistless power. Merchants 
who were frightened by the senseless cry of fifty-cent dollars are 
being pinched by the want of any kind of dollars. Laboring men 
who were duped by the threat of having their wages cut in two, 
and who marched in gold bug parades through muddy streets, are 
now marching in tramp parades with no wages whatever. 

Business men who thought it treason to desert a party name 
are finding that partisan victory is a poor compensation for a ruined 
business. The future is full of hope. The splendid devotion and 
unselfish patriotism of the six and a half million silver men has 
won the respectful attention of the thoughtful, and they will be 
joined by millions of new recruits who see the light of truth, and 
will unite with us to save the republic from the domination of the 
British rule of gold. Who doubts that the result of last November 
would be overwhelmingly reversed if a presidential election were 
held today? The next congress will be a silver body, and no 
gold bug will ever again occupy the White House. 

Let the friends of liberty stand firm for an American policy 
for Americans, on the platform of "Free and unlimited coinage of 
gold and silver at 16 to 1, without the aid or consent of any foreign 
nation. All paper money to be issued by the general government and 
made a full legal tender — no banks of issue, no corporation money 
and no interest-bearing bonds." 



CHAPTER XXXIV. 

THE EXISTING GOLD STANDARD, 

BY EX-CHIEF JUSTICE C. C. COLE. 

The "existing gold standard" is a wrong in its every aspect. It 
does not exist by reason of any expressed will of the people ; nor by 
force of any statute; nor pursuant to any law. The statute provid- 
ing for the payment of the obligations of the gov- 
ernment, directs such payment to be made in gold or 
silver coin, whichever shall be most convenient for the 
treasury. This statute was in force from' 1879 to 1 891 
(and is still in force), and was obeyed in its letter and spirit 
by the successive presidents and secretaries of the treasury, and all 
government officers during that period. There was, while that 
statute was obeyed, no difficulty between the government and its 
creditors, no fear of the exhaustion of the gold reserve, and no 
complaint about an "endless chain." The credit of the government 
was undoubted, and its ability to maintain its credit by the payment 
of all its obligations in the legal tender coin, gold or silver, of the 
country, was not questioned. 

How It Came. 
The money power of Great Britain and the continent, through 
its placid and supple tools in Wall street, had, it is true, in 1873, 
secured the demonetization of silver by the repeal of the law author- 
izing its coinage. It had also, after that wrong was fully known to 
the people, defeated the almost universally expressed will of the 
people, for the restoration of free coinage, through that deceptive 
and almost fraudulent enactment in 1878, known as the Bland-Alli- 
son act. At that time a free coinage bill, reflecting the previously 
expressed (almost) universal will of the people, had passed the house 
of representatives, but by the manipulations of the money power, 
then as now, having its seat and main spring of direction and action 
in Great Britain and the continent, managed, through its agents in 
Wall street, to convert such free coinage bill into a bill for the pur- 
chase, monthly, of a limited amount of silver bullion and its coinage 
on account of the government. The power behind the throne, if not 
the legislative agency through which it was manifesting itself, well 
knew that such a law, by its reduction of the bullion value of silver, 

298 




C. C. COLE, a native of New York, was born June 4, 1824. Edu- 
cated in the common schools and in Union College; received legal edu- 
cation at Harvard University. Married June 25, 1848. Went to Critten- 
den County, Kentucky, and practiced law nine years, then removed to 
Des Moines, where he has since resided. Appointed to the supreme 
bench of Iowa in 1864; afterward elected and continued until 1876, when 
he resigned his position of chief justice and returned to the bar. He and 
Judge Wright organized the law department of the State University, with 
which he remained connected for twelve years. After his retirement he 
sought to retire from practice and has since been dean of the Iowa Col- 
lege of Law, now a very successful school. 



THE EXISTING GOLD STANDARD. 299: 

which it was certain to accomplish, would place the country still 
further from the base of its settled purpose to return to free coin- 
age. 

The object of the Bland-Allison bill was to put the government, 
whose then manifest purpose was to return to free coinage, still 
further away from the goal of its purpose, by creating a disparity 
in the theretofore accepted value of the two metals. The money 
power then well knew that the only means for maintaining the 
then parity of value was the parity of use of the two metals in the 
free coinage of both by the government. The moment the gov-, 
ernment established its manifest purpose to permanently deny to 
silver its admission to free coinage along with gold, that fact alone 
would render certain a further and growing disparity in the bullion 
value of gold and silver. The passage of the Bland- Allison act was 
the turning point of victory for the money power. It was a greater 
victory than the original demonetization of silver, which was brought 
about by the suspension of the coinage of silver; because, while 
that act was, in its effect, apparently decisive and fatal to silver, yet 
there was practically but a single sentence in the way of its restora- 
tion. The demonetization was but an expression in the form of a 
statute, and as yet, has produced the existence of no fact which 
created any serious obstacle to the restoration of the free coinage of. 
silver. But the passage of the Bland-Allison bill not only de- 
nied to the people the right of free coinage, but also, by its pro- 
vision for the coinage of a limited amount of silver by the govern- 
ment, laid the foundation, sure and certain, for the positive and early 
disparity in commercial value between the two metals, gold and 
silver, as they had been theretofore very uniformly and universally 
accepted. This disparity would certainly come by reducing the 
bullion value of silver, because it withdrew from silver the right of 
the people to freely use it for coinage purposes, and fixed the amount 
which the government would coin at so small a sum as would assure 
an oversupply of silver in the market. This result, which was veri- 
fied by experience, was well known in advance to the money power. 
The people, however, did not stop to philosophize. They knew they 
had been prejudiced and wronged by the demonetization act of 1873, 
and so long as the new statute provided for silver coinage, the people 
did not stop to inquire as to its ultimate effect. It was materially 
different from that which they had before had, and which had been 
taken away from them. They mistakenly supposed that they had 
restoration of silver coinage, and that thereafter they would have 
what the fathers had provided for them before. 

If the government in its administration had been fair, and had 
carried out towards the people, in fullness, that which the law pro- 
vided for them, it would have been much better; for that it would 



300 THE SILVER SIDE— Campaign Text-Book. 

have provided substantially fifty millions per year (four millions 
per month), of silver coinage, and that would have done much 
towards maintaining the previous parity of value. But the money 
power in control of congress, which had secured the passage of 
the Bland-Allison bill, instead of a free coinage bill, knew well how 
to accomplish this purpose. Instead of allowing to be inserted 
in the law what was the will of the people, or even that which would 
accomplish their interest and purpose by requiring the coinage of at 
least four millions per month, they caused the minimum to be fixed 
at two millions and the maximum at four millions, and placed the 
discretion between the two with the president. The money power 
knew that it would be easier for them to control the president than 
congress, and got discretionary maximum and minimum, and then 
went to the president and secured the minimum, whereby the will 
of the people was defeated, through executive submission to the 
control of the money power. 

The Sherman Silver Coinage Act of 1890. 
For twelve years the fraud and deception, embodied by the 
money power in the Bland-Allison bill, wrought out its primitive 
purpose, to-wit: the coinage of the least amount of silver possible 
or within the reach of the money power, and the constant but certain 
reduction of the value of silver bullion, and the increase of the dis- 
parity between it and gold. The money power having thus ac- 
complished its chief purpose, which was the depreciation of the value 
of silver, now determined to accomplish its final overthrow. This 
purpose resulted in the repeal 'in 1890 of the Bland-Allison act, by 
the enactment of what was known as the Sherman act. It is worthy 
of note that the Sherman act was the result of a spasmodic effort 
of the people again, in the house, to restore free coinage. The 
house passed a bill, which became a new coinage bill, practically and 
fully, and the free coinage bill was again defeated by the enactment 
of a measure conceived in the interests of the money power. The 
Sherman act provided for the purchase of four and a half millions 
ounces of silver bullion per month — this amount being then sub- 
stantially the amount of the annual output of our American silver 
mines. The amount of the purchase of silver was fixed by the 
bill, and was not left to the discretion of the president. The people 
had been deceived by the Bland-Allison bill, which fixed a mimi- 
mum purchase and also a maximum, with the belief that the presi- 
dent would, in good faith, purchase such amount of silver per month 
as the business of the country should demand. In this they were 
deceived, for the president only purchased the minimum amount. 
The people had been, therefore, educated respecting the single fact 
as to the amount of the purchase — this amount, therefore, was dis- 
tinctly specified in the Sherman bill, and not left to the discretion 



THE EXISTING GOLD STANDARD. 301 

of the president. The people had been deceived upon that one 
point, and thereby had been educated and hence would not leave to 
the president any discretion in the amount of silver bullion to be 
purchased. 

The people never specify or even outline the language of a 
statute which they desire. They content themselves with a declara- 
tion of a principle which they demand shall be crystallized into a 
statute. They had done so in the election prior to the Bland- 
Allison bill, by declaring for the restoration of the "dollar of the 
dads." They were given, instead, the dollar of the money power. 
They demanded again in 1890 the restoration of free coinage and 
the rejection of the purchase of silver bullion and its coinage by 
the government. Free coinage gives to the people, the laboring 
men, the miners who produce the metal, the coins made therefrom 
direct from the mint, and the people do not have to go to the 
government treasury to get such coined money. They get it 
directly and in the first instance from the producers, and they 
get it in exchange for what they have to sell. When it is coined 
by the government, the people have no way to get it from the 
government. It goes from the government to the holders of the 
government bonds, government claims or government offices. 
This distinction is understood and appreciated, as well as keenly 
felt, by the people. But this is a departure. We have shown 
how the people were deceived in leaving to the president, by an 
act of congress, a discretion as to the amount of silver bullion 
to be purchased and coined. This they did in the Bland-Allison 
act. This they did not do in the Sherman act. But in the 
Sherman act the positive direction to the president, as fixed in the 
Bland-Allison act, to coin all the silver he purchased, was changed 
in the Sherman act, and it was left to the "discretion" of the 
president to coin as little or as much of the purchase under the 
Sherman act as the public interest required. Directly after the 
passage of the Sherman act, therefore, and at the earliest 
day possible under the act, the president (Harrison), under 
the manipulation of the money power, stopped the coinage of silver 
entirely, and thereby the money power had its complete triumph. 
It had demonetized silver and stopped its coinage in 1873. Under 
the almost universal demand for the restoration of "the dollar 
of the dads,'' the money power had conceded the purchase and 
coinage of two million dollars silver per month. In 1890, tinder 
the pretense of a larger benefit to the people, by means of the 
purchase of substantially all of the silver produced in this country, 
they absolutely stopped the coinage of silver and practically none 
has been coined since (a few millions now and then, as before the 
last election, but no settled or continued coinage). 



302 THE SILVER SIDE— Campaign Text-Book. 

Money Power Responsible for Decline in Price of Silver. 
This increased amount of purchase of silver under the Sherman 
act, together with the suspension by the president of the coinage 
of silver entirely, of course had, what the money power knew it 
would have, the effect of rapidly reducing the bullion price of silver. 
This, because after the purchase had been continued for a few 
months, and every dollar's worth of the silver bullion purchased had 
been piled up in the treasury and none of it coined or used, the 
amount thus accumulated and still on hand had the natural and 
necessary effect of reducing the bullion price. This result had been 
anticipated by and practically well known to the money power, and 
the leading legislators, through whom they had secured the fraudu- 
lent enactment. This reduction of the bullion value of silver was 
the end sought by the money power, because this great disparity 
in the former bullion values of the two metals could be used by the 
money power as a potent argument, if not an insurmountable ob- 
stacle to the people in their road to a demand for the restoration of 
the free coinage of silver. The retrospect of this legislation and the 
manifest cunning, art and deception embodied in it and in the 
means used to accomplish it, ought to be sufficient to satisfy the 
most sceptical that not only was the demonetization of silver in 
1873 a crime, but that all subsequent legislation hanging upon it, 
and brought about by perverting the efforts of the people to secure 
the restoration of the free coinage of the fathers, was more stupend- 
ous than the criminal fraud of the parent act of 1873. If the sub- 
sequent legislation was "open" in contrast with that of 1873, and if 
it was the "subject of debate," it was nevertheless a manifestation 
of artful deception and criminal cunning, actually overshadowing 
the parent crime of 1873. 

Executive Usurpation. 

We are now brought, in the history of the efforts to establish 
a gold standard in this country, to a material act which was mani- 
festly the result of the direct control of the president by the money 
power. Not simply the money power of Wall street, but the money 
power of Great Britain and the continent, which operates upon the 
government and the president, through its associates, agents and 
tools, in Wall street, New York. This money power of Great 
Britain and on the continent saw the demand existing for gold in 
Germany, Russia and elsewhere, and, therefore, the money power 
there desired to bring about such conditions here as would enable 
them to supply the demand there. The money power of Wall 
street had no such immediate and direct interest as had their em- 
ployers and directors in Great Britain and on the continent. The 
act to which reference is made is the final change of purpose on 



THE EXISTING GOLD STANDARD. 303 

the part of the president and the secretary of the treasury to pay 
gold upon every obligation of the government, at the demand of 
the holders thereof — a change and a direct overturn of a 
recognized principle of all individuals and nations hitherto, to-wit: 
that when a debtor is called upon by his creditor for payment 
the debtor may pay in any kind of legal tender money which he 
chooses — that the choice always has been with the debtor, and that 
the debtor may elect the kind of money in which he will discharge 
his obligation, the same being legal tender; this rule exists as to 
every debtor now. But in October, 1891, Benj. Harrison, president, 
with Charles Foster, his secretary, determined that thenceforth the 
government would pay its obligations, not according to the statute, 
in gold or silver coin whichever best suited the convenience of the 
treasury, but they violated that statute and decided to pay, and did 
thereafter pay, all obligations presented, including treasury notes, 
in the kind of money which the creditors demanded, although it 
was different from that which suited the convenience of the treasury. 
This was the act which commenced a drain upon our gold reserve 
in the treasury; this was the act which inaugurated the "endless 
chain" ; this was the act under which the government was afterwards 
led into an indebtedness of two hundred and sixty-two million dol- 
lars by borrowing gold, which was not in the treasury, to pay 
debts which the millions of the silver then in the treasury might 
have been used to pay. For this act, and for persistence therein, 
Ben Harrison, president of the United States, and Charles Foster, 
his secretary, each well deserved impeachment by the house and 
conviction by the senate. It was a "high crime" against the people; 
a violation of law, and a misdemeanor of gigantic proportions. To 
Ben Harrison, a Republican president, this country is indebted for 
its "existing gold standard." For this act, alone, he did well de- 
serve the pronounced rejection of his claims for re-election. He 
escaped impeachment, it is true, but he did not escape the con- 
demnation of the American people. 

Change Presidents and Party— But Keep the Pain. 

When Mr. Cleveland came to the presidency, after Mr. Harri- 
son's retirement, he found that the gold reserve was reduced near 
to its minimum amount; that it had been exhausted under the 
operation of the "endless chain," which President Harrison had 
inaugurated, contrary to the statute, and simply in compliance with, 
and I submit, in corrupt compliance with the demands of the money 
power of Wall street, acting as agent for the money power in Great 
Britain and on the continent. When Mr. Cleveland found that 
the gold reserve had been exhausted by Mr. Harrison's illegal and 
corrupt practice of paying the obligations of the government in gold 



304 THE SILVER SIDE— Campaign Text-Book. 

or silver, at the demand of the creditor, which resulted always in 
the demand and payment of gold, he saw that the treasury must 
be supplied with gold before it could be used in the payment of 
government obligations. He also found that Mr. Harrison had 
commenced preparations for the issuance of bonds with which to 
secure gold to supply the treasury. He found the plates prepared 
for such bonds. Mr. Cleveland determined to follow in the foot- 
steps of Mr. Harrison; and his secretary of the treasury, John 
Carlisle, although in his congressional career, an advocate of free 
silver, was quite too willing to accept the line of conduct marked 
out by his predecessor, Mr. Foster, who was Mr. Harrison's secre- 
tary of the treasury. It would be doing injustice to Mr. Cleveland 
to even suggest that he pursued the course because Mr. Harrison 
had inaugurated it. The fact, doubtless, is, and Mr. Cleveland 
ought to have the full credit (whatever that may be), of the dispo- 
sition to fully approve what Mr. Harrison had done, and cordially 
to follow it. That is to say, Mr. Cleveland was under the same 
money power influence, corrupt or otherwise, which controlled Mr. 
Harrison. Indeed, he persisted in this course against the manifest 
will of the people, as shown through congressional action. 

Mr. Cleveland called a special session of congress, and after 
making negotiations with the money power respecting the sale and 
purchase of government bonds, he found that if the bonds provided 
on their very face and in express language the fact that they were 
payable, both interest and principal, in gold coin, just as Mr. Har- 
rison and Mr. Cleveland himself had been paying all obligations of 
the government, since October, 1891, he could negotiate the 
bonds so as to save several millions of dollars to the government, 
well knowing, as did both Mr. Cleveland and Mr. Harrison, that the 
statute did not authorize the issuance of any obligation payable in 
gold, although, in perversion of the statute, and against its language 
and spirit, both Mr. Harrison and Mr. Cleveland had been paying 
government obligations in gold; yet congress, being in session, 
Cleveland attempted to get its consent to bind the government to 
do what Harrison and he had done and were doing. Con- 
gress refused to consent. By such refusal congress in effect repu- 
diated the conduct of Mr. Harrison and Mr. Cleveland, and de- 
clared that such a course was not only against the law as it then 
was, but also declared that they would not authorize the issuance 
of obligations requiring such payment in the future. Twice was 
congress appealed to by Cleveland for such power and authority, 
and twice was he denied. Yet in the face of these facts, and of the 
whole history of the matter, Cleveland and his secretary, Carlisle, 
persisted in paying gold upon all obligations of the government, 
although none of them were by their terms so payable. It is sub- 



THE EXISTING GOLD STANDARD. 305 

mitted, in view of these facts, that Grover Cleveland and John Car- 
lisle were each justly deserving impeachment, and that the interests 
of the people and their protection in the future, actually demanded 
such impeachment by the house and conviction by the senate. But 
Cleveland, like Mr. Harrison, although escaping impeachment, was 
most decidedly rejected by the people; even his own party, by 
an overwhelming majority, not only refused to endorse him by a 
renomination, but most positively and expressly condemned his ad- 
ministration — the first instance of the kind in our history of parties. 
Such condemnation was upon the very point of his conduct in fol- 
lowing out the course pursued by Mr. Harrison in paying all 
obligations of the government in gold at the demand of the 
creditors. 

Disparity the Result of Government Hostility to Silver. 

This course of the government, which we have outlined, in de- 
monetizing silver; in the passage of the Bland-Allison bill; in the 
purchase of the minimum only of the amount of silver bullion pro- 
vided for by that act; in the repeal of that act by the substitution of 
the Sherman act; in the stoppage of the coinage of silver; in the 
practical rejection of it as a currency of the government and as a 
legal tender in the payment of its obligations ; and in the multiplied 
other acts of the government, manifesting its hostility to silver and 
and its preference for gold, brought about, in fact, what it was the 
purpose of the money power by such legislation and conduct to 
bring about, to-wit: the great disparity in the bullion value of the 
two metals, gold and silver. The money power took these steps 
to create a gold standard when the bullion value of gold in its rela- 
tion to silver was as 16 to I, and at which it had been maintained 
Jor many years without loss or detriment to the government or any 
of its people, and, by the adverse legislation and conduct we have de- 
tailed, actually reduced the bullion market value of silver more than 
one-half; so that the relation in value of gold to silver was a prac- 
tical 33 to I. This disparity in value, and the reduction of the 
value of silver, was the purpose of the money power in the legisla- 
tion and conduct which we have described. Such reduction in 
the value of silver, and such great disparity in their relative values, 
was sought and produced for the purpose of using such fact to de- 
stroy bimetallism, and to build up a single gold standard. The 
argument from the fact which they had thus produced — the great 
disparity in value between gold and silver — was made the rallying 
cry of the money power, and was alleged as the reason for adhering 
to, and further progressing in, the building up of a single gold 
standard. Even this was not enough, alone, to have won the elec- 
tion in 1896, but for the free and unparalleled use of money, directly 
20 



306 THE SILVER SIDE— Campaign Text-Book. 

and indirectly, in the campaign and in the election. Confessedly it 
is true, in the judgment of every intelligent man, that bimetallism 
was defeated in 1896 because of the use of money, directly and indi- 
rectly, by a combination of moneyed men and moneyed influences, 
surpassing very greatly anything ever experienced in this country 
or even supposed to be possible. The scarcity of employment for 
labor, the indebtedness of so many people, and the general depres- 
sion of business, were made the fulcrums over which the money 
power secured its triumph. One other pretext was made which had 
its potency, too, in the election, and that was, that bimetallism 
could only be, and that it would be, secured through international 
agreement. This last claim and pretense was the means through 
which, doubtless, success was brought, apparently, to> the gold 
standard, and bimetallism appeared to be rejected. It is doubtless 
true, however, that more voters than the aggregate majority shown 
by the returns were induced to stand by "the existing gold stand- 
ard," in the belief that bimetallism in its broad fullness would be 
more certainly accomplished through international agreement, which 
was promised, than by this country alone, under the restoration of 
the free coinage of our fathers. 

International Bimetallism Impracticable, 

It is not necessary for me to stop here and demonstrate how 
utterly and absolutely hopeless and impossible it is now, or in 
the early future, to secure any international agreement for the equal 
and free coinage of gold and silver. One cause, an insurmounta- 
ble cause, is, that Great Britain, France and Germany, by those 
who control those governments, regard their interests in connection 
with finance, to be opposed to bimetallism. Those governments 
are directly controlled by the money power which has indirectly 
controlled this nation since 1873. This power is in absolute and 
direct control of the governments of the three nations named and 
others, and it regards its interests as being best promoted by hold- 
ing and forcing this country to the gold standard and its mainten- 
ance. While it is doubtless true, and such truth is recognized 
by the agricultural and industrial portion of the people of those 
countries, that bimetallism is absolutely necessary to their pros- 
perity, yet such portions of the people do not have much influence 
with those respective governments, as the like interests have in 
our government. The money power of those countries, as we have 
before stated in this article, have, through their influence over 
Wall street, been enabled to control this government and force 
it toward an actual gold standard, the length to which we have 
gone in this direction. They recognize and realize the fact, and 
are now rejoicing in the experience of its verity, that money is 



THE EXISTING GOLD STANDARD. 307 

power and that "the borrower is servant to the lender." In view 
of 1 these facts alone, the cause of international bimetallism is 
now absolutely hopeless and impossible. 

The Immense Silver Interests of the United States. 

Further than this, it must be remembered that this country 
produces substantially one-half, and, in the past, much more than 
one-half of all the silver bullion produced in the world; that 
Great Britain, France and Germany produce but the smallest frac- 
tion of the silver bullion product of the world; hence our interest 
in the restoration of free silver coinage and genuine bimetallism, 
and the increased use of silver thereby, is very large and ought 
to be controlling here, while the interests of those countries are 
very small and are not sufficient to move to action or to in- 
fluence either of them toward bimetallism. Our interests in free 
coinage and in the ratio of 16 to I are further strengthened by 
the fact that we have in the silver coin of this government, and the 
bullion ore now in its treasury, approximately six hundred millions 
of dollars. By adding to the ratio in the way of increasing the 
number of ounces of silver which shall be equal to the ounce of 
gold, the value of our coins and bullion would be reduced, and 
a direct loss to the government would result, in proportion as 
such ratio was increased by adding to the number of ounces of 
silver requisite to equal in value the one ounce of gold. For in- 
stance, if the ratio was made 20 to 1, it would diminish the value of 
our coin and bullion over one hundred millions, and if it were 
made 32 to 1, according to the present recognized market value, 
it would cost us three hundred millions of dollars. Any now 
possible international bimetallism agreement would be very cer- 
tain to make the ratio of silver very much more than the in- 
terests of this country demand, or than our people would or ought 
to consent to. 

International Bimetallism Against Our Interests. 

International bimetallism, in this view, is not desirable, for that 
the influence of the other nations, in such international conference, 
would, in the aggregate, be largely more than that of our nation, 
and hence we would be at a disadvantage, and our large product 
of silver would be unduly reduced in value, and our people and 
country thereby prejudiced permanently and for all future time. 
One other thought in connection with international bimetallism is 
that such treaty or international agreement would be violative 
of our constitution; for that our constitution provides that "congress 
shall have power to coin money and fix the value thereof." The 
treaty-making power is the president and the senate, without con- 
sulting the lower house of congress. The fixing of the value 



308 THE SILVER SIDE— Campaign Text-Book. 

of our coined money by treaty would, therefore, De a fixing of 
it by an authority not authorized by our constitution, but violative 
of it. International bimetallism is, in no respect of the question, de- 
sirable for this country. It would, beyond all question, operate 
to the present and future permanent prejudice of the people of 
this country, and to the permanent prejudice of the value of one 
of its leading products — silver. 

Free Coinage of Silver "Will Restore Parity. 

It was claimed during the canvass of 1896, that the value of 
silver had become so reduced as that silver ought not to be 
further used as basic or redemption money. When the attention of 
the people was called to the fact that, despite the conduct of the 
government, whereby it had succeeded in reducing the market 
value of the silver in the commercial world, yet the silver coin 
maintained itself at a parity with gold; and that, too, while its 
silver coinage was in excess of its gold coinage, and while the 
gold standard was maintained in several of the commercial nations 
of the world. This parity in all the coins, gold and silver, was 
being maintained, and had constantly been maintained, despite 
the course of the government in antagonism to its silver. And it 
was asserted, in view of these facts, that this country, with fair 
treatment toward silver by the government and its officers, 
even by the treatment which the statute itself plainly required, 
could maintain that parity with free coinage restored as it 
was established by our fathers and maintained for eighty- 
one years. The gold men, could only meet these facts and 
arguments by an unfounded claim, that because the government 
was in the hands of the gold advocates, that the government, some- 
how, by its special power, which could only be exerted while the 
government was in the hands of such men, could it maintain 
our silver upon a parity with gold. Of course it was very plain 
to every thinking person that silver maintained its parity with 
gold, because, by the statutes of the country, it was made equally 
with gold a legal tender for the payment of debts. It was and 
is this legal tender quality which enables silver, in the face of 
government opposition, and in the face of commercial markets, 
to maintain its parity with gold, continuously. It was impliedly 
conceded by the gold standard advocates, that if the United States 
government alone could maintain the parity with gold at 
the ratio of 16 to I, as fixed by the statute, then there was 
no necessity for any international agreement. But it was stoutly 
maintained, by assertion only, that this government could not alone 
maintain that parity. They were cited to the fact that for eighty-one 
years, commencing at a time when our population was but about 



THE EXISTING GOLD STANDARD. 309 

four millions of people, our fathers had established that ratio and 
had maintained it from 1792 to 1873, and that such fact was, in and 
of itself, a refutation of the assertions of the gold standard advo- 
cates. Let us look at the question a little further, and if we can 
show that this government can alone maintain the parity of silver 
with gold, at the ratio now provided by law, then it is the duty 
of the government to restore all silver to the use of free silver 
coinage as provided for us by our fathers. 

This Government Alone Can Maintain Bimetallism. 

We address ourselves now to the proposition that our govern- 
ment alone can maintain the parity of silver with gold at the 
ratio of 16 to 1, if it will restore to the people the free coinage 
laws of our fathers. This general proposition involves two ques- 
tions, which we prefer to treat in the following order, to wit: First, 
will free coinage restore the commercial value of silver? Second, 
can this government alone maintain the parity of such silver coin- 
age with gold? We affirm both propositions. 

The restoration of free coinage, it has been claimed by some, 
might restore bullion silver to its coinage value, if such free coinage 
was limited to the product of this country alone. But it would 
not do to limit the coinage to the product of this country; be- 
cause, by such limitation, we would soon create a difference in 
value between the silver bullion product of this country and the 
equally valuable silver product of other countries. This differ- 
ence in value of the silver bullion, determined according to the 
country where mined, when the product was coined, would at 
once afford an occasion for denouncing the free silver coinage of 
this country, as of depreciated value; because the silver in our 
coins would not be any better than the silver produced in other 
countries. Hence, by such discrimination, we would bring into 
disrepute, to that extent, as depreciated money, our silver coin- 
age, as being of a metal, the world's market value of which was 
less than its coinage value. It is, therefore, necessary that the 
restoration of free silver coinage shall be the restoration enacted and 
maintained by our fathers, to wit: the free coinage of all silver 
bullion brought to our mints, without inquiry as to the source from 
which it came, but only as to its purity. 

Now, it is clear that if our mints were open to the free coin- 
age of silver at the ratio of 16 to 1, the value of silver at the 
mints would be its bullion value, to wit: substantially one dollar 
and twenty-nine cents per ounce. Why? Because, having the 
silver bullion at the mints, it could be converted, without cost to 
its owner, into silver dollars which would be worth, and be a legal 
tender for the equivalent of, one dollar and twenty-nine cents an 



310 THE SILVER SIDE— Campaign Text-Book. 

ounce. Its bullion value would, therefore, necessarily, be its 
coinage value, and this without question. Mark you, we are now 
discussing the single question as to the effect of free silver coinage 
upon the price of bullion silver. We assume, for the purpose of 
the discussion of this question, that the government will maintain 
its value upon a parity with gold, which is the next proposition 
we are to discuss. If, therefore, it be conceded that the govern 
ment can and will maintain its parity, then no one can dispute the 
conclusion that the restoration of the free coinage of silver at the 
ratio of 16 to I will restore silver bullion to its coinage or par 
value at one dollar and twenty-nine cents per ounce. No intelligent 
person can question this result or fact. For, it is true the world 
over, and in every avenue of commerce, that if an article bears a 
particular price invariably and at a certain market where it can 
ail be received and consumed, such article will bear the same 
price anywhere within the range of commercial intercourse, less 
the cost of taking it from the place where it is produced or is 
existing, to the market where it will bring such fixed and known 
price. It is impossible to avoid this conclusion. Because it is 
supported by the commercial history of all commodities, and is 
approved by the judgment and experience of every intelligent 
person. 

Mark you, again, we are now discussing the single question 
of the effect of free coinage upon the price of silver bullion, leav- 
ing out of the discussion, or taking for granted, that the govern- 
ment will maintain the parity of such coinage when made with 
gold. Upon these suggestions we assume that ever reader con- 
sents that the restoration of the free coinage of silver at our 
mints, regardless of from whence the silver bullion came, will make 
the bullion value equal to the coinage value. 

Government Can Maintain Silver Coinage on a Parity with Gold. 

Having established the proposition that free coinage will restore 
silver bullion to a par value with its coinage value, we now turn to 
our second proposition. That proposition is, can the government 
now maintain its silver coinage on a parity with its gold coinage? 
Instead of making an argument to show that it can maintain the 
parity of value between the two coins, we simply ask the reader the 
question, "Why cannot the government maintain the parity?" We 
have just seen that the restoration of the free coinage of silver 
with gold at the ratio of 16 to I would restore the bullion value 
of silver to its coinage value. Since thereby the value of the silver 
in a dollar becomes precisely equal to the value of the gold in a 
gold dollar, is it not clear that the government can maintain the 
parity of the two coins? It surely can maintain such parity, be- 



THE EXISTING GOLD STANDARD. 311 

cause by the restoration of its free coinage, the silver in a silver 
dollar is made to have the same market value as the gold in a 
gold dollar; and since their market values are equal, not only can 
our government maintain the parity of silver coin with gold, but 
any individual in the land could do it; because the parity in 
bullion coinage value is now made certain by the act of free coin- 
age, and that parity is fully able to maintain itself with gold. 

In other words, the claimed disparity in value has arisen, solely, 
from the claimed or nominal market value of silver, which market 
value has been reduced by the methods we have hereinbefore 
delineated. At the time of the demonetization of silver in 1873, 
the value of silver in the silver dollar was 3 per cent, above the 
gold in a gold dollar. There was no difficulty in maintaining the 
parity of the two coins at that time, because there was a parity 
of value at the ratio of 16 to 1. The demonetization of silver or 
the stoppage of the coinage of silver and the further use of it 
for monetary purposes, had the necessary and natural effect of 
reducing its market value. For this, prior to that time, substantially 
one-half the product of silver had been used for coinage purposes, 
and, of course, the stoppage of the use for that purpose increased 
the volume for use for other purposes and such surplus of silver 
bullion for the remaining purposes necessarily resulted in the 
reduction of its price. The other causes which have tended to re- 
duce the market value of silver we have herinbefore fully set 
forth and need not here repeat. 

The question will recur to every considerate, intelligent mind, 
whether, having restored the parity of value by the restoration of 
free silver coinage, will the monetary demands of the country and 
the world consume the proportion of the entire product of silver, 
which was consumed prior to the demonetization of silver? Whether 
it will or not is a matter of reasoning, and not of dogmatism. To 
me it seems a certainty, that use will be found for all the silver 
which can properly be devoted to monetary uses, after supplying 
the demands for manufacturing and commercial purposes. Among 
the facts which incline me to that view are the depression of 
business which has resulted from demonetization, and the necessary 
reduction thereby of the volume of basic or redemption money; 
the stagnation of public improvements of all kinds, including im- 
provements, having more or less of public interest, made by in- 
dividuals, as well as improvements by the governments, federal, 
state and municipal, have together left a void or an unfilled field, 
which would invite capital the very moment the public became as- 
sured of the return to a permanence of free silver coinage. That 
fact, alone, would at once invite enterprise into the occupancy 
and development of these avenues and fields which have been left 



312 THE SILVER SIDE— Campaign Text-Book. 

unoccupied because of the depressed conditions of business for so 
many years. Besides, the cessation of public improvements, grow- 
ing out of this depression, which has existed, with every com- 
munity, family, and individual, has caused a limited expenditure, 
by way of dwarfing purchases for individual use, which has shown 
itself, and been manifested in every avenue of life — not only 
family and personal expenses, in the lines of travel and improve- 
ment, but a dwarfing of the various bases of necessity in the avenues 
of both raiment and food. The restoration of free silver coinage, 
with its assurance of the larger volume of money, and the higher 
prices of products coming therefrom, would at once invite back 
to the old methods of full supply of the necessities of life, and 
reindulgence in the semi-luxuries of travel and ornamentation. 
These, and many other things, would open the avenues of com- 
merce and business into which this increased supply of money 
would naturally and inevitably flow, and we would find practicable, 
profitable and most agreeable uses for any and all additions to our 
currency coming from this restoration. 

Besides this, the necessities of our currency circulation, which 
is in excess of our basic or redemption money when confined to 
gold alone, demand the broadening of the basic or redemption 
money, so as to equalize what is now often styled by our leading 
politicians as our "top-heavy currency"; that is, that we have more 
currency in circulation than is justly proportionate to the redemp- 
tion money properly applicable to its support. The increase of 
our basic and redemption money would not only restore the equi- 
librium as compared with the present circulation, but it would 
justify an enlargement of that circulation and the issuance of further 
currency, which would also find employment in the avenues we 
have hereinbefore suggested and such others as will occur to 
every reflective and considerate intelligent person. This change 
of conditions, by the restoration of free silver coinage, as was 
inaugurated and maintained by our fathers, would reverse the 
principle upon which the money power has been conducting af- 
fairs for the last twenty years. The maxim of the money power 
in all their conduct and to which they have adhered with per- 
plexing, if not criminal, fidelity, has. been the "high purchasing 
power of money." We would change this maxim, we say, and 
which change is demanded by the single fact that our country is the 
most productive nation on earth. The aggregate of our products 
in relation to population exceeds the aggregate products of any 
other nation on the face of the globe — our maxim will be the 
"high purchasing power of products and of labor." This high 
purchasing power of products and of labor would afford employ- 
ment, in legitimate and helpful avenues, of the increased volume 



THE EXISTING GOLD STANDARD. 313 

which the free coinage of silver would give us, as well as the in- 
creased volume of money, which such enlarged basis of redemp- 
tion money would justify and invite into circulation. It is not 
necessary for me further to indicate how or why this return to 
free silver coinage would only supply the volume of money neces- 
sary to enable us to return to our former conditions of prosperity. 
One only further thought is necessary to be suggested by me 
now and here. That thought is, that the world has had silver 
coinage from a period of two hundred and fifty years anterior to 
the birth of Christ, and gold coinage for a period about fifty 
years anterior to that glorious event; and that from that day to 
this, every nation, great or small, which has had an existence on 
the map or in the history of the world, has struggled to ac- 
quire all the gold and silver money it could per possibility se- 
cure, and that no nation, during all these two thousand years or 
more, has ever acquired more of either coin than it desired and 
could profitably use. No nation, great or small, has ever been 
afflicted with an excess of either gold or silver coin. It has, 
during all that period, been true that gold and silver coin con- 
stituted the only real money such nations possessed. Some of 
them have had, at times, more of currency than they could main- 
tain, but not one was ever afflicted by getting more of either 
gold or silver than it could hold and gladly acquire and maintain. 
The ratio of the product of gold bullion and silver bullion has 
varied from time to time during these ages, but at no time has it 
overburdened or at all prevented the desire of any nation to acquire 
all it could of either metal. The proportion of the two metals as 
now produced or as produced during the last twenty years, is not 
different from what it has been during other periods, prior to that 
time. Our closing thought is, does the reader suppose, or can he 
bring himself to believe, that now this country, contrary to the ex- 
perience of all the world, for two thousand years or more, will 
be prejudiced or burdened by its volume of gold or silver coin. If 
there is a reader who thinks that probable, I commend to him the 
earliest application possible to the nearest insane commission for 
an inquisition of lunacy which shall gain for him admission to the 
largest asylum he can reach. 



CHAPTER XXXV. 

THE RELATION OF THE FARMER AND THE LABORER TO 
THE ECONOMIC PROBLEM. 

BY REV. J. F. NUGENT, LL. D. 

Farmer — I and my friend here, who is a mechanic, have been 
studying the money question, and so far as we are able, the causes 
of the hard times. We have to admit that there are many things 
which we are not able to understand. We would like, therefore, to 
ask you some questions, which appear to lie at the bottom of all 
our difficulties. 

Nugent — It would be very strange indeed, if men who are 
obliged to work ten hours a day to earn their daily bread could, in 
their few idle moments, master a subject which has taxed the time 
and talents of the world's best thinkers. 

Farmer — We do not expect to master this complicated subject in 
all its details, neither do we know, or expect to know enough about 
mathematics to measure the course of the planets and calculate the 
time periodicity of an eclipse, but we ought to know enough about 
figures to keep our own accounts and conduct our own business 
without loss. Now, we want to know if there are not a few prin- 
ciples and definitions at the bottom of this great subject of money 
and labor which may be brought within the grasp of the ordinary 
mind, so that they may know enough about the subject to vote in- 
telligently on those issues which involve the interest of the laborer, 
Ithe farmer and mechanic. We have come to see that considerable 
[intelligence is necessary to secure the fruits of our industry to those 
who come after us. So far as work and economy are concerned, 
there is no doubt that we are both able and willing to earn a com- 
petency for ourselves and children, but it is clear that we shall have 
to stand together on the true principles of economy if we keep our 
substance from falling into the hands of those who neither save 
nor work. We used to think that all we had to do was to work 
and produce, and that a just and equitable profit would come to us 
through the natural channels of supply and demand. Every year, 
however, it is becoming more and more apparent that the channels 
of trade may be artificial — that commerce to a great extent has 
become a game, and that unless we know something about the 

314 



REV. JOSEPH F. NUGENT, LL. D., was born in Seneca, Ohio, 
May 22, 1845. He removed with his parents to Kent County, Michigan, 
in 1848. He attended the district schools until 1866, then went to Niag- 
ara University, New York; made there a course of nine years. Was 
ordained in 1874. Came to Iowa the same year, and was placed in charge 
of a congregation at Sigourney. The following year was transferred to 
Manchester. Four years later returned to Sigourney. Came to Des 
Moines July 2, 1882. 



THE RELATION OF THE FARMER, ETC. 315 

game, all our labor and economy will not keep us and our children 
from starvation and poverty. You know the farmer used to think 
that his greatest danger lay in floods and drouths, and that his 
greatest enemies were cut-worms and chinch bugs. Yet — bounte- 
ous heaven has so planned it that even in the face of unfavorable sea- 
sons and pestiferous insects, the farmers' cribs and barns are over- 
flowing. These dangers have come to cause the least alarm. High 
freights are more disastrous to the farmer than high water. A 
combination on twine can take more of the farmer's wheat than the 
average campaign of the army worm. The ravages of the cut- 
worm are small when compared with the damages inflicted on the 
farmer by inequitable taxation, or by compelling him to sell what he 
raises in an open market, and buy what he uses in a protected mart. 
It seems, too, that to divide the volume of our money, and limit 
money to gold alone, must result in a hardship to agriculture and 
industry scarcely less than the evils of an annual blight. 

Nugent — I think you take a very sensible view of the matter. 
I am glad that the farmers and the mechanics and laborers are 
beginning to wake up to the necessity of using their minds as well 
as their hands. Farmers and laborers ought to have a just share 
of that which they produce. It is a part of a slave to produce for 
others, it is the part of a freeman to produce for himself. In fact, 
this is the only difference between the man of freedom, and the 
man of bondage. 

Now the single question at the bottom of this matter is the 
equal distribution of property. You should have an equitable share 
of the world's goods, that is, you should have all the profits that 
arise from your efforts through the ordinary channels of supply 
and demand. Now you must keep this principle in mind all 
through your studies. Any thing which tends to establish this 
principle and realize its practical results in the world of economy, 
you must regard as sound doctrine. Anything which subverts this 
principle or operates against it, you must regard as a false and per- 
nicious theory. 

Equitable distribution of wealth is the object of honest economic 
adjustment, and bimetallism is the first step in the direction of per- 
manent reform. 

Mechanic — I once heard a professor say that in order to make in- 
telligent progress in any study or science, one must first understand 
the terms used in the explanation and development of the subject 
matter. You must have a correct, clean-cut definition for every- 
thing, and know what you are talking about before you can talk 
about it. In short, you must know what you want to say and then 
know how to say it if you would make any headway in the acquire- 
ment of knowledge. 



316 THE SILVER SIDE— Campaign Text-Book. 

Farmer — I and my friend mechanic have gone far enough in this 
question of economy to fully realize the force of these remarks. We 
have therefore concluded, if it is not encroaching upon your time, to 
ask you for some assistance touching the meaning of certain terms 
in the science of economy. 

Nugent — So far as I am able, I shall be only too happy to give 
you the result of my investigation and studies. This, of course, 
is the conclusions of the best thinkers and writers in the field of 
economic science. 

Farmer — Would you kindly give us a definition of those terms 
upon which the whole science of political economy is built? 

Nugent — I shall do so with the greatest pleasure. There are 
six terms used in the science of political economy, and if you once 
get a clear and well defined idea of what these terms mean, you will 
have a good start in making a true solution of the money and labor 
questions. 

These terms are: Value, Cost, Profit, Price, Money, and Selfish- 
ness. 

Now let us define each one of these terms briefly and clearly, 
and let us note carefully just what they mean, and how they act in 
the world of trade, and how they sometimes react on each other. 

Value is the desire you have for a thing. Cost is what you ex- 
pend in getting the thing. Profit is what you add to the cost 
of the thing, if you are going to sell it, or what you get out of it 
if you are going to keep it. Price is what you ask for the thing. 
Money is the thing which makes all other things change places. 
Selfishness is the element which is opposed to the principles of 
equity. All of these terms must be defined according to the prin- 
ciples of economy, except the last, which belongs to the domain 
of ethics. When these terms are carefully defined, they will be 
found to be the underlying principles of political economy. It 
will be your business now to study how these principles act in trade 
and commerce under the general law of supply and demand. And 
then, how they act and react on each other when the markets 
are not governed by the laws of supply and demand, but are 
artificially stimulated or unduly depressed through the agency and 
activity of trusts and syndicates. 

But now to our terms: 

Value, as I said, is the desire you have for a thing. That means 
the demand for a thing determines its value, and the desire for 
the thing makes the demand. 

Farmer — It seems then that our desire for a thing is the moving 
principle of the whole affair. What then, let me ask, is the cause of 
our desire? 

Nugent — Anything you like. Hunger, luxury, tastes, sickness, 



THE RELATION OF THE FARMER, ETC. 317 

fad or fashion. If we are sick we desire medicine, a change of 
climate or the healing draughts of Waukesha. If we are well, we 
have appetites, physical and intellectual, which are continually 
craving for something higher and better. So far as political econo- 
my is concerned, it makes no difference what it is, or why it is, 
so long as we desire it and have the money to buy it. The desire 
to have it and the ability to buy it determines its value. 

Let me illustrate this: Suppose you have a lot and cottage in 
a country town. You value it today at $1,200. One of your 
neighbors in digging for water strikes a spring with medicinal prop- 
erties. Others bore, and it is found that the valley contains sub- 
terranean reservoirs of life giving water. Sanitariums and hotels 
arise in the place. The sick and suffering hear of it and flock to 
this place from all parts. They must have accommodation. You 
can rent all the rooms in your cottage at high prices. The sick de- 
sire it, therefore it is in demand, and because it is in demand its 
value increases. You can now get for your cottage $4,000. 
Another man has a house and lot which he values at $5,000. It 
is in a thriving country town. The car shops are there, with a 
big distillery and glass works. He sees by the morning paper that 
the car shops are to be removed. A few weeks later the glass 
factory burns down and will not be rebuilt, and the big distillery has 
been closed by the whisky trust. The home which a few days ago 
was held at $5,000 can be bought now for $2,000, on easy terms. 
Why? Because it is not so desirable as it was a month ago. No 
one desires it now, and hence it is not valuable. Its desirability has 
determined its value. 

I hope now you see that value is a relative term and depends on 
circumstances; that it changes and fluctuates, and is not intrinsic. 
The merchant knows that his goods nuist be sold while they are 
in the style and season. The texture and material worth of the 
goods remain unchanged, but they are out of fashion, and hence 
not desirable, and therefore not valuable. Now, I have given 
you all these cases to show you that value is not in the thing itself, 
it is a thing of the mind, and that the mind determines the value of 
the thing, from the appetite we have for it. Value is therefore pure- 
ly relative, and can never be, under any circumstances, intrinsic. 

Mechanic — This point is perfectly clear. If you can explain all 
the other difficulties as clearly as this, we shall feel well satisfied. 

Nugent — Well, let us pass on to the next principle; cost. Cost 
is what you have expended in getting or making a thing. Let us 
suppose that you have a colt which you have fed and cared for three 
years. Now if you figure up every item of hay and oats and all 
other expenses paid out, you find that he owes you just $50. If you 
sell him for that, you will get just what you paid out for him. This 



318 THE SILVER SIDE— Campaign Text-Book. 

is his naked cost. You will have made nothing on him. You can- 
not continue to raise colts at that rate. So, too, if you make a 
wagon and find that the wood and iron and paint and labor cost 
you $50 exactly, that is what you have expended and paid out to get 
that wagon. This is what we mean by the bare cost of a thing. 

Now let us take up profit. Profit is that which you add to the 
cost of making or producing a thing if you intend to sell it, or what 
you expect to get out of it if you intend to keep it. If you 
add $25 to. the cost of the colt and $20 to the cost of the wagon, 
this will be your profit. It will be your income and enable you to 
live and continue the business. Now let me examine the meaning 
of "price." 

Price, I said, is what you ask for a thing, and is supposed to 
include both the cost and the profit. 

Mechanic — It seems to me that value, as you define it, and 
price, are one and the same thing. 

Nugent — At first blush it would seem that way, but on closer 
analysis you will find this difference: Value is what a thing 
will bring on the market, governed by supply and demand, and the 
price is what you ask for it, regardless of market. Sometimes you 
can get what you ask for a thing, then you may be said to 
have sold the thing at your own price. Again you may have 
to take just what you can get, then you may be said to have 
sold the thing at its market value. 

Farmer — I must say, with mechanic, that I cannot see any 
difference between value and price as you define them. Because 
if you got your price, it was because of the desirability of the 
thing you had to sell, and if you had to let it go for what you 
could get, it was because that which you had to sell was not 
desirable. In both cases, therefore, desirability determines the 
value of your goods and what you ask cuts no economic figure. 

Nugent — Let me move you around into another place where the 
light is different. For a clearer illustration, I shall introduce the 
word "worth." An economic knowledge of this word will clear 
up your difficulty. "Worth" has two significations, the one econo- 
mic and the other in the sense of an equivalent. Hudebras ex- 
presses its economic sense when he says: "What's worth in any 
thing, but so much money as 'twill bring?" Then we say some- 
times that a thing is worth more than it will bring. When horses 
are low, if you should say to a farmer, "What is that horse worth?" 
he would probably answer, "He is worth a great deal more than 
he'll bring on the market. He'll probably not fetch more than 
$50, but he is 'worth' $100 to wear out in the harness." That is, 
his market value is $50, but his work worth is equal to $100. So 
a coat or a hat out of style has an actual worth apart from 



THE RELATION OF THE FARMER, ETC. 319 

the money "twill bring." in times of booms exhorbitant prices 
are employed to produce fictitious values. Syndicates and trusts 
can't make values, but they can make prices. Value, you know, 
is determined by desirability. The trusts and syndicates do not aim 
to make things desirable, and thereby enhance their value. They 
take things that are already desirable; things that the people must 
have, and by controlling the manufacture, fix their prices. Under 
the law of supply and demand, desirability fixes the value; under 
the law of syndicates and trusts, the directors fix the prices, if 
there were no trusts, corporations or disturbing agencies, values 
and prices would be substantially the same. You will see, there- 
fore, that there is a distinction between values caused by our de- 
sires, and prices fixed on desirable things by those who control 
the market. If it is true, then, that a thing is worth what it 
will bring on the market, it is equally true to say we often pay 
more on the market for a thing than it is worth, or have to sell 
it for less than it is worth. In a market controlled by the law 
of supply and demand, we are governed by values. In a market 
controlled by trusts and corporations, we are governed by prices. 
It is the desires of the million which determine values. It is the 
greed of the few which fix prices. Some writers hold that price 
is the money value for which a thing will exchange. This, in my 
way of thinking, is rather a general definition of value. Price is 
a thing of the mind, but it is the mind of the person who has 
the thing to sell. Value is a thing of the mind, too, but it is 
determined by the aggregated minds of the masses who have to 
buy. It is for the purpose of realizing the price which the indi- 
vidual sets on a thing that trusts and corporations have come into 
existence. The amount of money for which a thing will exchange 
is determined either by the law of supply and demand, or the 
arbitrary will of a trust. Therefore, I " use values when speaking 
with regard to supply and demand, and prices when speaking of 
trusts. I think now that you cannot fail to catch my distinction 
between values and prices. 

Farmer — I see your position clearly. You hold that so long 
as trusts and corporations remain factors in trade and commerce, 
"price" must be retained as a term in the study of political economy. 
This seems to be sound doctrine. 

Mechanic — So far, so good, but the most important problem of 
all is the great money question. We should like to hear your 
opinion on money, what it is, and how it affects the occupations 
of the laborer and the farmer and the mechanic. 

Nugent — I heartily agree with you when you say that the 
money question is the most important of all. We shall approach 
the subject, therefore, in a plain and logical manner. Let us go 



320 THE SILVER SIDE— Campaign Text-Book. 

back to the definition of money which I gave in the beginning: 
"Money is the thing which makes all other things change places." 
In studying the money question there are two things which I want 
you to carefully avoid. First, you must not confound the idea of 
money with the metal out of which money is made. And, second, 
you must not say or hold that either metal or money can have 
an intrinsic value. Bearing these two points in mind, you will 
save yourself much confusion, and will more easily find the logical 
trend of the subject. You remember the advocates of the gold 
standard maintained that gold has an intrinsic value, and that, 
therefore, it is the proper material for money. Now gold has 
no i?itrhisic value. What is meant by "intrinsic value?" It means 
a value that is fixed and always the same, not relative but abso- 
lute, and is not changed or determined by times or circumstances. 
Let us see if gold has any such value. Suppose that Alexander 
Selkirk, while alone on the island of Juan Fernandez had dis- 
covered a keg of gold nuggets. What would have been its value 
to him? You know we laid it down as a principle that 
desirability determined the value of a thing. Why should Selkirk 
desire the gold? He was the only man on the island. So far 
as he knew he would never see the face or hear the voice of his 
fellow man again. Cowper makes him say: 

I am out of humanity's reach, 

I must, finish my journey alone; 
Never hear the sweet music of speech, 

I start at the sound of my own. 

There was no one on the island to borrow this gold or ex- 
change anything for it, no one even to steal it. He needed knives 
and needles and salt and gunpowder and clothes, but he had ab- 
solutely no need for gold. He could have had no desire for a thing 
for which he had no need, and which could minister to no want in 
life. 

Now if gold has an intrinsic value, it ought to have been as good 
for Selkirk on the desert island as it would have been to a farmer 
in Iowa. If it is more valuable to the farmer of Iowa than it 
was to Selkirk, it must be owing to the different circumstances 
in which the Iowa farmer is placed. Its value, therefore, depends 
on circumstances, and if it does, it is relative and not absolute, and 
if it is not absolute, it is not intrinsic. Now this is simple, plain 
logic, and settles that question forever. But to make it sure, let 
me take another illustration: You and I are on a ship together. 
The ship is wrecked. You and I are suddenly plunged into the 
sea. You have a bag of gold in your hand and I have a piece 
of plank which I snatched from the deck as I leaped into the 



THE RELATION OF THE FARMER, ETC. 821 

ocean. Neither of us can swim. You offer me your bag of gold 
for my plank. In your circumstances, you can well afford to offer it. 
In my circumstances, I can't afford to take it. Owing to our 
circumstances, your gold is worth nothing; my plank is 
worth millions. Here, as in all things else, desirability determines 
the value. My few feet of plank is more desirable than your bag 
of gold, and, therefore, more valuable. Hence gold has, and can 
have, no intrinsic value. 

Now, if metal has no intrinsic value, much less can money have 
intrinsic value. Money is the measure and medium of exchange. 
Money can't measure something which doesn't exist, if nothing 
but relative values exist. Money itself is as relative as the value 
it measures. Suppose the keg of nuggets which Selkirk found 
had been a keg of sovereigns, it would have neither increased or 
diminished their value. 

Farmer — Your reasoning on this point is perfectly conclusive. 
I am well satisfied that all values are, and must be, relative. 

Mechanic — Why is it, then, that gold has always so high a 
value and always nearly the same value? For instance, if the 
Romans, in the days of the republic, had employed currency with 
their gold, is it not a fact, if we should discover in the ruins of 
Pompeii and Haraculanium an old vault filled with the treasure of 
a by-gone people, the currency would not be worth the papyrus on 
which it was written, while the gold would not have lost a particle 
of its value, either by the lapse of ages or the fall of the repub- 
lic. It would seem, therefore, that a metal of this quality was 
specially designed by nature as the material out of which money 
should be made. 

Nugent — But this is equally true of silver. Silver is not subject 
to rot, rust, mildew or decay. It has a high value in the arts, 
and has worked side by side with gold in all nations and through 
all ages of the past. In searching under the ruins of Solomon's 
temple, if you could have found the shekels of silver that enriched 
the temple, and produced them in Washington in 1873, you could 
have taken a premium of 3 per cent, of the old gold resurrected 
from the vaults of buried Pompeii. 

Now, I said that money is the thing which makes all other 
things change places. It must, therefore, be equivalent in value to 
all other things itself; or it must represent only a part of the 
world's value, and for the rest manage the change through tokens, 
signs and symbols. Now, this can be done easily, because there is 
a great deal of the world's wealth that is not in circulation. Such 
as lands and mines and buildings. Then there is another portion 
of the world's wealth that is a continuous and rapid circulation, such 
as groceries, clothing, wages, fees, theater and railroad tickets, 
21 



322 THE SILVER SIDE -Campaign Text-Book. 

grain and implements. In order to keep these last articles change 
ing, there must be a volume of money adequate to the num- 
ber and magnitude of the changes to be made in the world of com- 
merce. 

Farmer — Now you have come to the core of the question, and 
the difficult problem in political economy. We would like to 
have this made clear, because this is supposed to contain the 
secret of the hard times. 

Nugent— Very well, give me your undivided attention for a 
minute. First, let me ask you how you define "hard times"? 

Farmer — Well, I call it hard times when things begin to quit 
changing places, when the merchant's goods are not changing 
places, but are still on the shelves, the lumber in the yard in the 
same place it was a year ago, and the farmer says his products 
are still on the farm, and if they have changed they have left no 
profit, and the laborer says the dirt from cellars and brick in the 
yard are not changing places. I call this a sign of hard times. 

Nugent — Very good. Now, if money is the thing that makes 
all other things change places, the microbe of your difficulty must 
lie in the money question. There is either not enough money in 
circulation to make the necessaries and commodities of life change 
places, or from some cause money itself has ceased to change its own 
place. You know in the late campaign the bimetallist held that all 
the gold in the world is not sufficient to do the business of the world. 

Farmer — Yes, but is it not a fact that the gold of the country, 
together with the silver and currency, is amply sufficient to make 
the commodities of the world change places? 

Nugent — That is the very question in issue. The people called 
everything in circulation "money." Booms and speculations fol- 
lowed, and booms and speculations produce fictitious values. Final- 
ly the people were called on to pay their debts, and they were told 
that nothing but gold is money. Gold then fixed the prices. We 
passed suddenly from boom values to gold prices. Under the 
supposition that money was plentiful, men spread out; every sail 
was set. Suddenly silver was demonetized; half the volume of what 
"we called money was cut off, and everything shrunk and collapsed 
to meet the requisites of a contracted currency and gold prices. 

Besides, you are doing what I told you not to do. You are 
confounding money with the material out of which money is 
made. You must look on a twenty-dollar gold piece, or that silver 
dollar as a creature composed of a body and soul. Its body is made 
out of silver or gold by workmen and artists, but its soul is cre- 
ated by an act of congress, a fiat of the government. The body 
is gold or silver, but the soul is "money." Unlike a living 
creature, it is the soul that is perishable and the body immortal. 



THE RELATION OF THE FARMER, ETC. 323 

The monometallists want a medium, in which, if the soul dies, 
the body will be "as good as gold." It is the function of the 
government to create the soul and breathe it into a body of metal. 

When the government dies, the soul dies, and if the body is 
base or worthless material, the body dies too. The advocacy of 
monometallism is, therefore, based on the idea that if the soul, 
is perishable, it ought to be put into a body which will Jive and 
shine and have undiminished value after its soul and the power 
that made it have both ceased to exist. This idea is detrimental to 
the idea of patriotism. If one has gold, he need not care particu- 
larly what becomes of the country. When coin is seriously mutil- 
ated, like a human body, the soul goes out of it. Butlf the coin, 
be gold, the corpse is as good as when it contained its financial 
soul. In this sense, no one has ever seen, touched or handled 
money, but only the visible body which contains the invisible cre- 
ation of the government. This soul or fiat of government, is money. 

Now the monometallists desire to select gold because it is com- 
paratively scarce and highly valuable as compared with its bulk, 
and to have government breathe into that body, and that only, 
a financial soul. Now trade and commerce are carried on by 
money, and not by gold, silver or paper. It is not well, therefore, 
that the blood of commerce or the money-soul should be placed 
in gold, and in gold alone, because gold is as valuable without a 
soul as it is with it. When government breathes on gold and gives 
it the money-soul, it adds nothing to its value. It was as valuable 
before as it is after. It is the only creature in the world, where the. 
corpse is as good as the living body, and where the body is as good : 
as the soul and body — and where a part is as good as the whole. 
The poor man and merchant and trader and laborer and mechanic 
are dealing, and will always have to deal, with money, while the great 
financial gamblers deal and want to deal with the material out 
of which money is made. If they can confine money to one material 
and that a scarce and precious material, you can see then that the 
body will control the soul, metal will govern money, and a few 
money centers will hold the metal, which stop or start the wheels 
of commerce. You can then have hard times with full barns and 
"cattle on a thousand hills." Now, what you want is a volume of 
money adequate to the volume of business to be transacted. Not 
only that, but you want such monetary laws as will tend to secure 
its circulation. The first step in this direction is the free and 
unlimited coinage of silver, at an equitable ratio with gold. If 
money is the blood of commerce, it can circulate through the chan-? 
. nels of trade more abundantly in two metals than it can in one, while 
on the other hand, it is easier for the great money dealers of the 
world to corner and control one metal than it is two. If it is to. the 



334 THE SILVER SIDE- Campaign Text-Book. 

interest of the great money kings that there should be a single gold 
standard, it follows conversely that it is to the interest of those 
w-foo deal in commodities that gold and silver both should be cir- 
culated as money. I know I will be charged here with fomenting 
discords and creating suspicion between the masses of the people 
and the plutocrats, by teaching that their interests are not identical. 
I have not taught this by a system of a priore reaso?ii?ig. It is 
founded on actual experience. During the last twenty-hve years, 
there has been a constant and ever increasing friction between 
capital and labor, nor is it pessimistic to assume that the crest of 
the struggle is still ahead of us. Those who advocate a single gold 
standard know very well its worth as an economic lever in control- 
ling the finances of the world. You ought to know what is meant by 
centralization. Centralization is the philosophy of power. If 
nothing in the world could be money but gold, then all the metals 
would be centralized in one. Then if all of the banks were done 
away with but one, a money system with but one bank and one 
metal would be an unlimited power. Then again, if all directors 
and stockholders were removed, and the one bank with the one 
metal should fall under the control of one man, you would have 
complete centralization, and irrisistible power. This, of course, 
can never happen, but the nearer you approach centralization in the 
same ratio you experience its results. The greatest battle that has 
ever been fought in the history of the world is now coming. It is 
the battle between centralization on the one side, and equal distribu- 
tion on the other. It is a struggle between aggregation and segre- 
gation. Wealth is largely centralized now, and is rapidly becoming 
more so. On this account it is held by some that it is necessary 
to have a centralized government to protect wealth, or, as it is more 
elegantly put, "for the protection of vested interests." 

Farmer — I would like to hear you more fully on money which is 
the thing that makes all other things change places. 

Nugent — This is very important, and I gladly return to it. As 
I stated a moment ago, money makes all other things change places. 
It can do this in two ways. It can make the change directly by 
itself, or it can make things change places through the operation of 
an agent acting in its name. For instance, $50 in gold starts out 
Monday morning in a butcher's pocket and changes its place with a 
fat cow. The cow came back to the city and the gold stayed out 
in the country. The farmer who got the gold went the next day 
and changed it with a neighbor for twenty sheep. The gold now 
changed places with the sheep. The next day the man who sold 
the sheep went to the city and bought $50 worth of coats and shoes 
for .his family. The gold has changed places with the coats and 
shoes. A few hours later the merchant buys 20 cords of wood from 



THE RELATION OF THE FARMER, ETC. 325 

a wood chopper, and the gold has again changed places with the 
wood. Now this one bit of gold has in a few hours made four 
things change places. It has done this in two ways. First it acted 
as a measure of value and then as a medium of exchange. That is, 
it could move, and did move, anything that was not worth more 
than $50 and was movable. This is why money is called a 
measure of value and a medium of exchange. Now money could 
have made the exchange in another way. The gold could have 
stayed at home and sent an sgent in its place to measure values and 
make the changes in the name and place of gold. This agent 
might be made out of silver, paper or leather, and would correspond 
to what we call token money. Now you see that $50 in gold 
made in three days $200 worth of commodities change places. This 
practically speaking is an instance of barter operated through the 
medium of an exchange. Each man exchanged goods with his 
neighbor, and the last man only has the medium of exchange. The 
butcher has the first farmer's cow, and the first farmer has the sec- 
ond farmer's sheep, and the second farmer has the merchant's shoes 
and coats, and the merchant has the wood dealer's wood, and the 
wood dealer has the $50 to continue trade on the morrow. 

Farmer — According to this mode of reasoning, the gold in the 
world ought to be quite sufficient to do the business of the world. 

Nugent — If all the gold in the world was in circulation and 
every one should deal as those men I have cited, that is, if every 
one produced something and consumed something, lived frugally or 
within his means and paid cash, I think the gold of the world would 
do the business of the world. But you must remember the vast 
amount of gold that is hoarded up and held in reserve and used in 
the arts, and how gold standard countries like England, with vast 
outstanding credits, are continually congesting the gold in the great 
heart center of the monetary world. The bulk of the world's gold 
is never in circulation, and taken as a whole, never can be as nimble 
as the $50 I have just cited. 

Mechanic — Then if gold can make things change places through 
an agent, why not multiply the agents? 

Nugent — Because the agent can do as much as the principal, 
but can't do more. Let us take an example of multiplied agents. 
Suppose the butcher, the morning he went into the country, had 
left the $50 at home and taken with him two fifty dollar bills, and 
had bought two cows instead of one, and the farmer had bought 
forty sheep instead of twenty, the second farmer had bought $100 
worth of boots and coats instead of $50 worth, and the merchant 
had bought forty cords of wood instead of twenty. At the end of 
the deal the wood man would have $100 in currency. He looks at 
it and finds that it is not monev. He discovers that he has been 



326 THE SILVER SIDE-Campaign Text-Book, 

dealing with the agent and not the principal. His paper is simply 
an order on Gold. He takes the paper the next day and goes to 
Gold and says, "Your agent bought wood of me yesterday and gave 
me an order on you and said you would redeem it." Gold says, 
"So 1 shall. How much is it?" "One hundred dollars." Then 
Gold says, "My agents were not authorized to do that much busi- 
ness. I am only worth $50. I could not do $100 of trading 
myself, and it is not likely that I would put agents in the neld 
to do what I can't do myself. I shall redeem $50 of the paper, 
and you must lose the balance." Now you will see that you can do 
more business with Gold's agent than you can do with Gold himself. 
This is the idea of medium and exchange. Therefore, if you want 
to transact business you must have a volume of money adequate 
to the volume of business to be done. It is our position on this 
showing that silver should act with gold as a principal and not as 
an agent or token. 

It is an unequal deal when the masses have to transact the 
business of the world with tokens and stuff that has no money soul 
"in it, and the great capitalists and brokers of the world are dealing 
with a metal that is good enough without a money soul. The gold 
magnates talk in public of sound money, but they mean sound 
metal. The farmer, mechanic, and laborer want sound money and 
enough of it to move the world of commerce. The volume of 
money is going- to be doubled in one of two ways. Under a single 
gold standard, gold will be doubled through its doubled purchasing 
power. This doubling of the purchasing power of gold is equal to 
doubling the volume in circulation. But this is beneficial only to 
those who have gold. Under this gold standard anything that mul- 
tiplies for the people who have gold, divides for the people who 
haven't gold. The next way that the volume of money can be 
increased is through a free and unlimited coinage of silver, at an 
equitable ratio with gold. This will increase the volume of money. 
This will increase, too, the value of silver, in which we are the rich- 
est nation in the world. Under this system the masses gain and 
the moneyed class lose. The best evidence you can have of the 
truth of this statement is found in the desperate, bold and un- 
scrupulous effort made by money during the last campaign. Now 
I have endeavored to show you that a single gold standard is un- 
favorable to you and your interests. In doing so I appeal directly 
to your selfish motives; "Absolute right," and "Right because it is 
right;" and education as a guaranty for right will do when you 
are talking to children in Sunday school, but you must not show 
your weakness or betray your ignorance by using this term when 
dealing with economic subjects and talking about the manipulating 
of bonds and managing oil, twine and sugar trusts. This, now, 



THE RELATION OF THE FARMER, ETC. 327 

brings me to the end. We come to the last principle, and we shall 
dispose of it as briefly as possible. Human selfishness is the cause 
of all our woes, and at the same time, it is the element that moves 
the world. We never can have progress without it, and we never 
can have peace and happiness with it. We must not seek to destroy 
it any more than we would steam or gravitation, but we must find 
some way to manage, control and direct its activity. The diversity 
of self-interest will always keep the world from falling into a univer- 
sal monopoly. It is to the interest of men with money to aggregate 
their wealth and control prices. It is in the interest, too, of men 
without wealth to aggregate their votes to resist the aggressions 
of wealth. Human selfishness acts and reacts like a governed valve. 
When greed and selfishness becomes organized and aggressive on 
the one side it furnishes its own check by compelling selfishness 
on the other side to organize for its own protection. The problem 
of the age, and the highest result of civilization is to secure a system 
which will as nearly as possible turn human selfishness on both 
sides of the piston head. We have the action in the self-interest and 
greed of the rich, and we must get the reaction and counter-stroke 
from the self-interests of the masses. 

Any political or social contrivance which gives permanent and 
overbalancing power to wealth must be regarded as fatal to the 
interests of the common people. During the last quarter of a 
century the tendency has been through class legislation and the 
establishments of trust and corporation to secure a political and 
economic centralization. Wealth will furnish the power for one 
side of the piston head, while the counter stroke must be supplied by 
the bleeding hands and bruised shoulders of the toiling millions. 

Let me show what the farmer and the laborer have to con- 
tend with in this struggle for equitable distribution. On the 
one side, the bulk of the country's wealth is in the hands of a 
few men. Their business pertains to money and they under- 
stand their business. These representatives of the nation's wealth 
can easily convene and determine that which is best for their in- 
terests. To this they devote their best and undivided energies. Re- 
ligion, nationality and color have no place in their deliberations. 
They have and can have a complete organization. They em- 
ploy none but the best talent, both legal and diplomatic. They 
pay their attorneys royal salaries, and with princely gifts they 
are able to corrupt the representatives of the people. They can 
reduce wages, close rival institutions, control outputs, and raise 
prices. These are the powerful levers of centralization and aggrega- 
tion. The conditions and advantages of the masses are not so 
favorable. In fact, they are just the reverse of their powerful ad- 
versary. The people have wealth, but it is distributed in the hands 



328 THE SILVER SIDE— Campaign Text-Book. 

of 60 millions instead of 60 hundred people. Their great num- 
bers and diversified interests render a universal and complete or- 
ganization impossible. For instance, if the farms of this country 
were held by a thousand men, instead of ten millions, it would be 
possible for the farmers to form a trust and leave the farms idle 
until old corn would bring 75 cents per bushel. In controlling 
outputs the farmer can never cope with the trust. He is abso- 
lutely helpless. He must produce for the world for the lowest possi- 
ble figures, and consume necessaries at the rates of the organized 
blood-suckers. And yet, the greatest power of the world lies in the 
masses. But it is not available. There is great power in the 
water of Lake Erie, but it is the power that washes banks, wallops 
the breakers, and heaves the billows. It is available only where 
it tumbles over the rocks at Niagara. So, too, there is untold 
power in the winds that sweep a continent. But it would bankrupt 
the world to make windmills enough to catch it all and concen- 
trate it on a single shaft and equalize the motion from a hurricane 
to a dead calm. The world holds in silent reserve an unlimited 
ocean of electric power, but it is available only through a large 
amount of capital and a few small dynamos. It is so, too, of the 
power held by the masses. It is there, but it is hard to concen- 
trate it on a certain point. The diversity of thought and interest 
form at every step a break in the electric current. In the world of 
capital and banking every man moves and thinks according to the 
laws of financial tactics. In the masses, ideas and theories spring 
up like mushrooms. Many of the people are moralists and re- 
formers, idealists and cranks. The voting of millions is determined 
by old national, religious and political prejudices. Then, again, in 
the masses lies the bulk of the world's ignorance. On account of 
these conditions the people are generally torn up and divided over 
local and minor issues. From these causes they are not apt to be 
formidable opponents to those who are forging their chains. It has 
been held, and I think with good reason, that many of those 
movements which break the current in the masses have been set 
on foot and fed by the diplomatic agencies of the great political 
money centers. Anything which tends to separate the common 
people, and draw their attention away from their common interests, 
must in future be regarded as an important element in political 
economy. 

Farmer — Would you kindly tell us what you understand by a 
double standard, and what you mean by bimetallism, and why you 
think a double standard is better for the masses than a gold 
standard? 

Nugent — I am glad you spoke of this, because I want to say 
something on this head before we part. There is a dangerous 



THE RELATION OF THE FARMER, ETC. 329 

fallacy here. The gold standard people have misled and are still 
misleading the common people. Bimetallism is used in a double 
sense. You must not confound a bimetallist with an advocate 
of free and unlimited coinage. Often an advocate of a single 
gold standard will say, "Why, I am a bimetallist myself." By 
this he means that there shall be two metals, but only one of 
them shall be money. In this sense we may all say that we are tri- 
metallists, because we believe in the use of gold, silver and nickel. 
You must, therefore, beware of the ambiguity couched in the 
term bimetallist. When the advocate of free silver says bimetal- 
lism he means that silver shall circulate with gold, not as its token 
or agent, but that it shall have a money soul of its. own, created 
by the same power that created the money soul in gold. In short, 
it must be money absolutely and unqualifiedly money. The sil- 
ver advocate has clearly expressed his position in the words: "We 
demand the free and unlimited coinage of silver into money at the 
ratio of 16 to i. 

Farmer — Has it not been held that it is impossible to have a 
double standard on account of the fluctuating values of the two 
metals, and that on this account it is impossible to have a con- 
current circulation of gold and silver, and that unless the 
circulation is concurrent, there can't be a double standard. The 
reason of this is, as they allege, because the baser metal will 
always drive out the dearer, and hence there can be practically 
only one metal in the field, and that the cheaper one. 

Nugent — Yes, I know this is held by some, but it is held 
by just as good authorities on the other hand, that concurrent 
circulation is not absolutely necessary to the ideal of a double 
standard. For my part, I hold that the true idea of a double stand- 
ard is more nearly realized with two metals which are never at an 
exact parity, and never far from it. If the two metals could be kept 
at an exact parity, it would be practically equal to one, or a single 
standard. And while we would have a greater volume of money, 
we would still be subject to some of the evils of the single standard. 
If the future demands should call for a large volume of token 
money, gold and silver, being equal, could do what gold is 
doing now, it could increase its own purchasing power with all 
the monetary evils that follow. The advocates of a single gold 
standard regard it as a great monetary evil that the baser metal 
should drive out of circulation the dearer metal, according to 
the legitimate laws of traffic. 

But is it not a still greater evil when the cheaper metal is 
driven out of the field by an act of congress and gold is crowned 
as absolute monarch in the world of money? Gold, even with 



330 THE SILVER SIDE— Campaign Text-Book. 

competition, is a hard master. But cold, heartless, bloodless gold, 
without a competitor, is a tyrant without a parallel. 

Without competition, gold can grow timid and nervous be- 
fore election, and bold and arrogant when its proud protectors are 
seated on the throne. 

When the advocates of the gold standard tell you that the 
cheaper metal will always, drive out the dearer, ask them where 
it will go to. 

The dearer money can't afford to sink back into vaults. It 
must earn money for its possessor. If it can't do it in the field with 
silver, it must go to a country where gold rules. This will be a 
land of gold prices and gold prices are low. Now, if it is a 
law that the dearer metal will flee from the cheaper, it is equally 
a law that commodities will always flee from a cheap, and seek 
a dearer market. This is the markets adjusting themselves accord- 
ing to the laws of nature. It is the principle of self-interest in 
the human heart which makes the better metal leave the field 
where the baser metal is circulating, and it is the same principle 
which makes commodities leave a lower market for a market of 
higher prices. This is nature's provision for turning the steam 
on both sides of the piston head. This behavior of the two metals 
in the monetary world was announced by Gresham in the 16th 
century. It was supposed to be a defect in nature's plan. The 
English statesman proposed as a remedy that the rich should 
own the steam and turn it on only one side of the piston head, 
and that the masses should supply the counter stroke with their 
bruised shoulders and bleeding hands. I might sum the matter 
up by telling you that a double money standard is a law of the 
Great Creator, made to preserve the law of equity. The single 
gold standard is a law of Great Britain, made in the interest of 
wealth and greed, and to favor the money lord at the expense of the 
laboring hind. 

Nugent — Now, to you who are farm laborers and mechanics 
I want to put the question where you can get at it and use it 
when you want it. Let me leave you some ammunition which 
you can use with terrible effect on the gold people, if they ever 
come within range of you. 

Let me suppose that here are a farmer, a mechanic and a laborer, 
and I, myself, am a capitalist, worth millions of dollars. Now, the 
farmer, the laborer and the mechanic are not worth a cent. They 
are just beginning. Their fate and their fortune are ahead of 
them. 

Now, let me ask the farmer here, "If you had the power to 
make the conditions around you, what would you do?" 



THE RELATION OF THE FARMER, ETC. 331 

Farmer — Well I would make the conditions most favorable to 
my business. 

Nugent — Then you would, if you could, produce conditions 
which would give you the highest possible price for the produce 
of your farm. t . ... 

Farmer — I certainly would. 

Nugent — If you found, then, that by forming a trust among the 
farmers and letting your land lie fallow one year, and cropping. it 
the next year, you could get as much for one crop as you 
had been getting for two crops, would you not be tempted to 
enter into a combination for controlling the output and raising the 
price? 

Farmer — Yes, I think I would. 

Nugent — Now let me ask the mechanic here what he would do 
for his craft if he had the power. 

Mechanic — If I had the power I would create a great and 
growing demand with high prices for all products of the mechanic's 
hand. To have this I should have a large consumption, and to 
have a large consumption I should have an adequate volume of 
money. I should also want close labor organizations through which 
I could secure the highest wages with the shortest day. 

Nugent — You have done just what I thought you would do. 
Now let me ask the laborer here what conditions he would have 
if he had the power to make them. 

Laborer — I would make an abundance of work with a scarcity 
of workmen. With a great amount of work on hand, and a scarcity 
of men to do it, we could probably dictate our own wages and en- 
force the eight hour system. 

Nugent — I see that you, too, have about all the human nature 
that your skin will hold. Now let us see how matters stand with me, 
I have money to invest and lend. You have to make your money 
with your hands and your day's work. If I make money, I shall 
make it through my money. I shall perform no manual labor. I 
shall therefore take my pattern from yon gentlemen and work for 
my own interest. Supposing now that I have the power to make 
the conditions I want. I would first make money scarce. This, of 
course, would increase the demand for money. With scarce money 
and a heavy demand I could pretty nearly name my own interest 
and dictate my own securities. Now you will notice that these laws 
when applied in your cases increased your earning power. The 
same laws in my case increased the earning capacity of my capital 
or enlarged the purchasing power of my dollars. Now this is pre- 
cisely what has been done in 1873; the volume of your money was 
diminished by one-half by the demonetization of silver. This made 
money scarce. It may be alleged that the rate of interest now 



332 THE SILVER SIDE— Campaign Text-Book. 

doesn't show that money is scarce or that capital has dictated its own 
interest. You will be told that capital is begging takers at 4 per 
cent. Your answer is: That there are two reasons for this, both of 
which illustrate the pernicious effect of a single gold standard. First, 
if the demonetization of silver has made money scarce, it has made 
gilt-edged security still scarcer. It is the lack of good security out- 
side the banks that makes money plentiful in the banks. It is the 
worst commentary on the system and the times, to say that times are 
hard outside and good inside the banks. There is still another cause. 
Bryan's hosts are still camping on the field. His white tents are 
spread beside the smokeless factories, ten cent corn and closed 
banks. . No one knows this better than the capitalist. The peo- 
ple have become thoroughly aroused to the importance and mag- 
nitude of the issue, and if they have to die, it is better to starve like 
men on the field than starve like paupers in a poor house. It is 
more worthy of American freemen to die in attempting to fix their 
own policy than to live under a policy dictated by a foreign power. 
I have now given you my opinion on the leading points in this 
important subject of political economy, and you must now draw 
your own conclusions. 

There never was a time in the history of the republic when the 
American people had more need of good judgment and concerted 
action than they have in the present crisis. They have trusted to 
parties and party platforms, until they are disgraced by corruption, 
bankrupted and beggared by an iniquitous, monetary system fas- 
tened on them by foreign bankers and domestic traitors. It sur- 
passes belief that in our land and age of intelligence, England could 
find a large element ready and willing to assist her in carrying out 
a financial policy which could have been conceived only in a country 
highly civilized, deeply selfish and absolutely blind to the funda- 
mental principle of justice. 

Farmer — Another question now comes to my mind that I would 
like, before we separate, to have you explain. It is said that 22.50 
or thereabout is our per capita in circulation, and that it is quite 
sufficient for the country. Do you think that it is enough? 

Nugent — You must remember that "per capita" does not mean 
now what it did fifty years ago. The changed condition of trade 
and commerce has changed the meaning of the word per capita. 
Fifty years ago every town and hamlet manufactured something. 
Every little burg had a blacksmith shop, a carpenter shop and a* 
flouring mill. Blacksmiths did work when it came in, and between 
times turned shoes and made nails. Now the smith buys his shoes 
for nearly the cost of the iron, and the nails are bought by the peck 
or the bushel. A few great factories make all the wagons and a few 
mills furnish all the flour. The distribution of factories meant thedis- 



THE RELATION OF THE FARMER, ETC. 333 

tribution of capital and the distribution of capital meant money 
among the people. The aggregation of capital and manufacturing 
forces have practically annihilated the little man and the little indus- 
tries in every department of commerce. The millions of small rills 
and rivulets of money which used to flow among the masses, water- 
ing and giving life to the smaller industry are now dammed up in 
great waterheads and supply the world in a few places and furnish 
what the world needs. Under these conditions you ought to say 
now instead of per capita, "per corporation," "per syndicate," "per 
millionaire." We hold, therefore, that a greater volume of money 
is absolutely necessary for the people. 

Farmer — Have you any remedy for the present financial diffi- 
culty into which the country has fallen? 

Nugent — A man with a remedy now is the man the nation needs. 
I shall not say that I have an infallible remedy for all the existing 
ills, but I can offer some valuable suggestions which, if acted on, 
will certainly change matters for the better. 

First, I would suggest that the masses go out of politics, the 
classes have been out for many a year. You must quit your 
finances while you were talking politics. You must quit your 
political foolishness and quit shouting at the polls. Study political 
economy deeply and vote quietly. 

Second, in studying the money and labor questions, drop all 
other questions, whether of race or religion, and study the question 
as you would a problem in mathematics. Let me give you a few 
examples of how to work out those social and economic questions. 
After you have satisfied yourself on your own side, take the propo- 
sitions of the other side, and see if they will stand the test of hon- 
esty and common sense. For instance, when they tell you "that 
the poor man's dollar should be as good as the rich man's dollar," 
you must tell them in return that that is not the question in issue. 
The question is, shall the poor man have an equal chance with the 
rich man, in scraping dollars together regardless of whether the 
dollars are good or bad? The study of this question will school 
you in the matter of class legislation. This is a question on which 
we can't afford to be ignorant. 

Then, when they tell you that free coinage of silver would 
make a cheap dollar because it is made out of cheap silver, you 
will examine their argument and see that the dollar would be cheap 
if the silver bullion would remain cheap, but what article remains 
or can remain cheap after a demand for it has been established? 
When they tell you that we had good times in the eighties because 
of the tariff law, and that we will have good times in the nineties, 
as soon as the Dingley bill takes effect, you must answer that in the 
eighties four million ounces of silver were coined each month and 



334 THE SILVER SIDE— Campaign Text-Book. 

put into circulation. Put into an algebraic equation, their propo- 
sition will read thus: A tariff law plus four million ounces per 
month of silver equals a tariff law minus four million ounces of sil- 
ver per month. Your common sense w T ill tell you that can't be 
true. When they tell you that free coinage would make a few silver 
kings at the expense of the people, ask them then why, by protective 
tariff, make sugar kings at the expense of the people? For years 
they taught you to vote for a high protective tariff to shield our 
industries against the pauper wages of Europe. Now it appears 
that these low wages were the normal wages of a gold standard 
country. Now you are asked to vote for a single gold standard, 
that you may have a wave of prosperity. Surely you can see how 
that "iniquity hath lied to itself." 

Again, when they tell you that the farmer can't be protected, 
because he has to compete with the wheat of Australia, Russia and 
Argentine, you shall ask them, if you can't protect the farmer's 
products, why protect what he consumes? Why not let the wool 
grower and the sugar planter compete with foreign productions? 
Here your common sense will detect iniquity. 

Now I have told you quite enough to put you in the right way 
of thinking on these important subjects. If the common people 
will once realize the necessity of getting the correct ideas on these 
matters, they cannot fail to see what their fate will be in another 
century. W r e have little to hope for, unless we can succeed in 
educating the common people on these subjects, so vital to their 
own interests. 




WM. JENNINGS BRYAN was born in Salem, 111., March 19, i860. 
At the age of ten he entered the public school at Salem; at fifteen he 
entered Whipple Academy, and subsequently Illinois College, from which 
he graduated with honors in 1881. He commenced the practice of law 
in Jacksonville, 111., and removed to Lincoln, Neb., in 1887. In 1890 he 
was elected to Congress on a free silver platform, from which there has 
since been no variableness. That subject has ever been made prominent 
in all his speeches. His nomination for the presidency by the Chicago 
convention, the platform adopted, history of campaign, etc., are elab- 
orately given in other parts of this work. See index. 



CHAPTER XXXVI. 

AMERICAN ORATORY. 

Chicago Convention Speech of Hon. ¥m. J. Bryan 

BY THE AUTHOR. 

The discovery of the new world by Columbus gave a new spring 
to human enterprise, opened new trains of thought, new paths of 
gain and information. Man before this period was more dependent 
on his own thoughts for improvement than afterward, when, by a 
rapid circulation of books, his mind became enriched by the rays of 
light from ten thousand other minds. Guided by these new im- 
pulses, he arose and swept away the thousand little errors of think- 
ing and grappled with dogmas which in former days he feared to 
touch. 

Every country has its chivalrous characters, its patriots, states- 
men and orators, and our own American nation, young as it is 
abounds, in them. In oratory, the pulpit, the bar and political ros- 
trum, have severally made magnificent contributions to our own 
treasury of American eloquence. Neither has it been limited to any 
particular period of our brief national existence. 

The history of Revolutionary times afford many examples of 
which any nation or people might justly be proud. For instance, 
the case of Samuel Adams. He had taken an active part in the 
preparatory work of the Rebellion. Governor Gage, in command 
of the British forces in Boston, sent Colonel Fenton to Mr. Adams, 
promising that any benefit he might ask should be conferred upon 
him, on condition that he would forsake the popular faction, with at 
the same time significant threats thrown out of the consequence 
that might ensue if his course was persisted in. 

Instantly rising from his chair, Mr. Adams, all his impassioned 
nature aroused, eloquently exclaimed, words never to be forgotten: 
"Go, tell Governor Gage that my peace has long been made with 
the King of kings ; and this is the advice of Samuel Adams to him, 
no longer to insult the feelings of an exasperated people. I am 
poor, but your king is not rich enough to buy me." 

Another signer of the Declaration of Independence, of the Revo- 
lutionary period, noted as an orator was Charles Carroll, of Carroll- 

335 



336 THE SILVER SIDE— Campaign Text-Book. 

ton. One writer in speaking of him says: "His eloquence was of 
the smooth, gentle kind, delighting all and convincing many. It 
is not pretended that like John Adams, he came down upon his 
hearers as with a thunderblast from Sinai, raising the tables of Inde- 
pendence on high, and threatening in his wrath to break them if not 
received by the people, nor that like Dickenson he exhausted rhet- 
oric and metaphysics to gain his end, and was ever striving to be 
heard; but Carroll came to his subject well informed, thoroughly 
imbued with its spirit, with happy conceptions, graceful delivery, 
and with chaste and delicate language, he conquered the under- 
standing and led captive the senses of his hearers. He was not 
inappropriately called the Nester of older times. 

One of the pleasing incidents of Mr. Carroll's life came from the 
adding to his name his place of residence. Being the wealthiest 
man of all the colonies, some one remarked as he signed the Decla- 
ration of Independence: "There go a few millions." Another re- 
marked: "You'll get clear, there are several Carrolls." Quickly 
seizing his pen he added, of Carrollton. Had Great Britain suc- 
ceeded, the property of all in rebellion would have been confiscated. 

Did space permit it would be interesting to refer to the im- 
promptu, eloquent speeches of Patrick Henry of the same period, 
to his splendid speech in which occurred the exclamation: "Give 
me liberty, or give me death." The last words John Adams uttered 
July 4, 1824, "Independence forever," will inspire the American 
heart for a thousand years, and President Andrew Jackson's: "The 
Union, it must and shall be preserved." 

Of Henry Clay, Daniel Webster and others of later times, the 
author would be glad to write ; but his purpose in adverting to this 
subject at the present time is to present to readers some choice 
gems from the long to be remembered speech, delivered in the 
Chicago Democratic convention in 1896, by Hon. Wm. J. Bryan, 
in reply to Senator Hill, of New York. The sentiments contained 
in this eloquent address are worthy of the noblest American, and of 
which every citizen of whatever party should be proud, and would 
be but for party prejudice. Most assuredly it will take rank in 
history with the efforts of the best American orators. 

Mr, Bryan's Speech. 

Mr. Chairman and Gentlemen of this Convention: I would be presump- 
tuous indeed to present myself against the distinguished gentleman to whom 
you have listened if this were but a measuring of ability, but this is not a 
contest among persons. The humblest citizen in all the land when clad in 
the armor of a righteous cause is stronger than all the hosts of error that 
they can bring. I come to speak to you in defense of a cause holy as the 
cause of liberty — the cause of humanity. 



AMERICAN ORATORY. 337 

When this debate is concluded a motion will be made to lay upon the 
table the resolution offered in commendation of the administration, and also 
the resolution in condemnation of the administration. I shall object to 
bringing this question down to a level of persons. The individual is but 
an atom — he is born, he acts, he dies — but principles are eternal, and this has 
been a contest of principles. Never before in the history of this country has 
there been witnessed such a contest as that through which we have passed. 
Never before in the history of American politics has a great issue been 
fought out, as this issue has been, by the voters themselves. 

Progress of the Silver Movement. 

On the 4th of March, 1885, a few Democrats, most of them members of 
congress, issued an address to the Democrats of the nation, asserting that 
the money question was the paramount issue of the hour; asserting also the 
right of a majority of the Democratic party to control the position of the 
party on this paramount issue; concluding with the request that all believers 
in free coinage of silver in the Democratic party should organize and take 
charge of and control the policy of the Democratic party. Three months 
later, at Memphis, an organization was perfected, and the Silver Democrats 
went forth openly and boldly and courageously proclaimed their belief, and 
declaring that if successful they would crystallize in a platform the declara- 
tion which they had made; and then began the conflict, with a zeal approach- 
ing the zeal which inspired the crusaders who followed Peter the Hermit. 

Our Silver Democrats went forth from victory unto victory until they 
are assembled now, not to discuss, not to debate, but to enter up the judg- 
ment rendered by the plain people of this country. In this contest brother 
has been arrayed against brother and father against son. The warmest ties 
of love and acquaintance and association have been disregarded. Old lead- 
ers have been cast aside when they refused to give expression to the senti- 
ments of those whom they would lead, and new leaders have sprung up to 
give direction to this cause of truth. Thus has the contest been waged and 
we have assembled here under as binding and solemn instructions as were 
ever fastened upon the representatives of a people. 

Not a Question of Personalities, 
We do not come as individuals. Why, as individuals we might have been 
glad to compliment the gentleman from New York, Senator Hill, but we 
knew that the people for whom we speak would never be willing to put him 
in a position where he could thwart the will of the Democratic party. I say 
it was not a question of persons; it was a question of principle, and it is not 
with gladness, my friends, that we find ourselves brought into conflict with 
those who are now arrayed on the other side. The gentleman who just pre- 
ceded me spoke of the old state of Massachusetts. Let me assure him that 
not one person in all this convention entertains the least hostility to the 
people of the state of Massachusetts. But we stand here representing peo- 
ple who are the equals before the law of the largest citizens in the state of 



338 THE SILVER SIDE— Campaign Text-Book. 

Massachusetts. When you come before us and tell us that we shall dis- 
turb your business interests, we reply that you have disturbed our business 
interests by your course. We say to you that you have made too limited 
in its application the definition of business man. The man who is employed 
for wages is as much a business man as his employer. The attorney in a 
country town is as much a business man as the corporation counsel in a 
great metropolis. The merchant at the cross roads store is as much a busi- 
ness man as the merchant of New York. The farmer who goes forth in the 
morning arid toils all day, begins in the spring and toils all summer, and by 
the application of brain and muscle to the natural resources of the country 
creates wealth, is as much a business man as the man who goes upon the 
board of trade and bets upon the price of grain. 

Mr. Bryan Defines Business Men. 

The miners who go 1,000 feet into the earth or climb 2,000 feet upon the 
cliffs and bring forth from their hidden places the precious metals to be 
poured into the channels of trade, are as much business men as the few finan- 
cial magnates who in a back room corner the money of the world. 

We come to speak of this broader class of business men. Ah, my 
friends, we say not one word against those who live upon the Atlantic coast 
but those hardy pioneers who braved all the dangers of the wilderness, who 
have made the desert to blossom as the rose — those pioneers away out there, 
rearing their children near to nature's heart, where they can mingle their 
voices with the voices of the birds — out there where they have erected school- 
houses for the education of their young, and churches where they praise their 
Creator, and cemeteries where sleep the ashes of their dead — are as deserv- 
ing of the consideration of this party as any people in this country. It is 
for this that we speak. We do not come as aggressors. Our war is not a 
war of conquest. We are fighting in the defense of our homes, our families 
and posterity. We have petitioned and our petitions have been scorned. 
We have entreated and our entreaties have been disregarded. We have 
begged and they have mocked, and our calamity came. We beg no longer; 
we entreat no more; we petition no more. We defy them! 

An Andrew Jackson Needed. 
The gentleman from Wisconsin has said that he fears a Robespierre. My 
friend, in this land of the free you need fear no tyrant who will spring up 
from among the people. What we need is an Andrew Jackson to stand as 
Jackson stood against the encroachments of aggrandized wealth. They tell 
us that this platform was made to catch votes. We reply to them that 
changing conditions make new issues; that the principles upon which rest 
Democracy are as everlasting as the hills, but that they must be applied to 
new conditions as they arise. Conditions have arisen, and we are attempt- 
ing to meet those conditions. They tell us that the income tax ought not to 
be brought in here — that it is a new idea. They criticise us for our criti- 
cisms of the supreme court of the United States. My friends, we have not 



AMERICAN ORATORY. 339 

criticised. We have simply called attention to what you know. If you 
want criticisms, read the dissenting opinion of the court. That will give you 
criticisms. 

They say we passed an unconstitutional law. I deny it. The income tax 
was not unconstitutional when it was passed. It was not unconstitutional 
when it went before the supreme court for the first time. It did not become 
unconstitutional until one judge changed his mind, and we cannot be ex- 
pected to know when a judge will change his mind. The income tax is a just 
law. It simply intends to put the burden of government justly upon the 
backs of the people. I am in favor of an income tax. When I find a man 
who is not willing to pay his share of the burdens of the government which 
protects him, I find a man who is unworthy to enjoy the blessings of a 
government like ours. 

No Use for National Banks* 

He says that we are opposing the national bank currency. It is true. 
If you will read what Thomas Benton says, you will find that he found, in 
searching history, but one parallel to Andrew Jackson, that of Cicero, who 
destroyed the conspiracy of Cataline and saved Rome. He did for Rome 
what Jackson did when he destroyed the bank conspiracy and saved Amer- 
ica. We say in our platform that we believe the right to coin money and 
issue money is a function of government. We believe it. We believe it is a 
part of sovereignty, and can no more with safety be delegated to private 
individuals than we could afford to delegate private individuals the power to 
make penal statutes or levy laws for taxation. 

Mr. Jefferson, who was once regarded as good Democratic authority, 
seems to have a different opinion from the gentleman who has addressed 
us on the part of the minority. Those who are opposed to this proposition 
tell us that the issue of paper money is a function of the bank, and that the 
government ought to go out of the banking business. I stand with Jeffer- 
son, rather than with them, and tell them, as he did, that the issue of money 
is a function of the government and that the banks ought to go out of the 
government business. 

They complain about that plank which declares against the life tenure 
in office. They have tried to strain it to mean that which it does not mean. 
What we are opposed to in that plank is the life tenure that is being built 
up at Washington, which excludes from participation in the benefits the 
humbler members of our society. I cannot dwell on this longer in my lim- 
ited time. 

Answer to Mr. Hill. 

Let me call attention to two or three things. The gentleman from New 
York says that he will propose an amendment, providing that this change 
in our law shall not affect contracts already made. Let me remind him that 
there is no intention of affecting those contracts which, according to the 
credit laws, are made payable in gold. But if he means to say that we cannot 



340 THE SILVER SIDE— Campaign Text-Book. 

change our monetary system without protecting those who have loaned 
money before the change was made, I want to ask him where, in law or 
in morals, he can find authority for not protecting the debtors when the act 
of 1873 was passed, but now insist that we must protect the creditor. He says 
he also wants to amend this law and provide that if we fail to maintain parity 
within a year we will then suspend the coinage of silver. ' We reply that 
when we advocate a thing which we believe will be successful we are not 
compelled to raise a doubt as to our own sincerity by trying to show what 
we will do if if fail. I ask him, if he will apply his logic to us, why he does 
not apply it to himself? He says that he wants this country to try and secure 
international agreement. Why doesn't he tell us what he is going to do if 
they fail to secure an international agreement? There is more reason for him 
to do that than for us to say what we will do if we fail to maintain the 
parity. They have tried for thirty years — for thirty years — to secure an inter- 
national agreement, and those who are waiting for it most patiently don't 
want it at all. 

Paramount Issue. 

Now, my friends, let me come to the great paramount issue. If they 
ask us here why it is that we say more on the money question than we do 
upon the tariff question, I reply that if protection has slain its thousands the 
gold standard has slain its tens of thousands. If they ask us why we did not 
embody all these things in our platform which we believe, we reply to 
them that when we have restored the money of the constitution, all other 
necessary reforms will be possible, and until that is done there is no reform 
that can be accomplished. Why is it that within three months such a change 
has come over the sentiments of this country? Three months ago when it 
was confidently asserted that those who believe in the gold standard would 
frame our platform and nominate our candidate, even the advocates of the 
gold standard did not think that we could elect a president, but they had good 
reason for the suspicion, because there is scarcely a state here today asking 
for the gold standard that is not within the absolute control of the Repub- 
lican party. But note the change. Mr. McKinley was nominated at St. 
Louis on a platform that declared for the maintenance of the gold standard 
until it should be changed into bimetallism by international agreement. Mr. 
McKinley was the most popular man among the Republicans and everybody 
three months in the Republican party prophesied his election. How is it 
today? Why, that man who used to boast that he looked like Napoleon — 
that man shudders today when he thinks that he was nominated on the 
anniversary of Waterloo. Not only that, but as he listens he can hear with 
ever increasing distinctness the sound of the waves as they beat upon the 
lonely shores of St. Helena. Why this change? Ah, my friends, is not the 
change evident to any one who will look at the matter? It is no private 
character, however pure, no personal popularity, however great, that can 
protect from the avenging wrath of an indignant people the man who will 
either declare that he is in favor of fastening the gold standard upon his peo- 



AMERICAN ORATORY. 341 

pie or who is willing to surrender the right of self government and place 
legislative control in the hands of foreign potentates and powers. 

We go forth confident that we shall win. Why? Because upon the 
paramount issue in this campaign there is not a spot of ground upon which 
the enemy will dare to challenge battle. Why, if they tell us that the gold 
standard is a good thing, we point to their platform and tell them that their 
platform pledges the party to get rid of a gold standaid and substitute 
bimetallism. If the gold standard is a good thing why try to get rid of it. 
I might call your attention to the fact that some of the very people who 
are in this convention today and who tell you that we ought to declare 
in favor of international bimetallism and thereby declare that the gold stand- 
ard is wrong, and that the principle of bimetallism is better, these very 
people four months ago were open and avowed advocates of the gold stand- 
ard, and telling us that we could not legislate two metals together even with 
all the world. I want to suggest this truth, that if the gold standard is a 
good thing, we ought to declare in favor of its retention, and not in favor of 
abandoning it; and if the gold standard is a bad thing, why should we 
wait until some other nations are willing to help us let it go? 

Here is the line of battle. We care not upon which issue they force the 
fight. We are prepared to meet them on either issue or on both. If they 
tell us that the gold standard is the standard of civilization, we reply to them 
that this, the most enlightened of all the nations of the earth, has never 
declared for a gold standard and both the parties of this year are declaring 
against it. 

If the gold standard is the standard of civilization, why, my friends, 
should we not have it? So if they come to meet us on that, we can present 
the history of our nation. More than that. We can tell them this, that 
they will search the pages of history in vain to find a single instance in which 
the common people of any land have ever declared themselves in favor of a 
gold standard. They can find where the holders of fixed investments have. 

Mr. Carlisle said in 1878 that this was a struggle between the idle hold- 
ers of idle capital and the struggling masses who produce the wealth and 
pay the taxes of the country, and, my friends, it is simply a question that 
we shall decide, upon which side shall the Democratic party fight? Upon the 
side of the idle holders of idle capital, or upon the side of the struggling 
masses? That is the question that the party must answer first, and then it 
must be answered by each individual hereafter. The sympathies of the 
Democratic party, as described by the platform, are on the side of the strug- 
gling masses, who have ever been the foundation of the Democratic party. 

Two Ideas of Government. 

There are two ideas of government. There are those who believe that, if 
you just legislate to make the well-to-do prosperous, their prosperity will 
leak through on those below. The Democratic idea has been that if you leg- 



342 THE SILVER SIDE— Campaign Text-Book. 

islate to make the masses prosperous their prosperity will find its way up 
and through every class that rests upon it. 

You come to us and tell us that the great cities are in favor of the 
gold standard. I tell you that the great cities rest upon these broad and fer- 
tile prairies. Burn down your cities and leave your farms and your cities 
will spring up again as if by magic. But destroy our farms and the grass 
will grow in the streets of every city in this country. 

My friends, we shall declare that this nation is able to legislate for its 
own people on every question, without waiting for the aid or consent of any 
other nation on earth, and upon that issue we expect to carry every single 
state in this Union. I shall not slander the fair state of Massachusetts nor 
the state of New York by saying that when its citizens are confronted by 
this proposition is this nation able to attend to its own business? I will not 
slander either one by saying that the people of those states will declare 
our helpless impotency as a nation to attend to our own business. It is 
the issue of 1776 over again. Our ancestors were the three million who had 
the courage to declare their political independence of every other nation 
on earth. Shall we, their descendants, when we have grown to seventy 
million, declare that we are less independent than our forefathers? No, my 
friends, it will never be the judgment of this people. 

Therefore, we care not upon what lines the battle is fought. If they say 
bimetallism is good but we cannot have it till some nation helps us, we re- 
ply that, instead of having a gold standard because England has, we shall 
restore bimetallism and then let England have bimetallism because the 
United States has. If they dare to come out in the open and defend the 
gold standard as a good thing, we shall fight them to the uttermost, having 
behind us the producing masses of this nation and the world. Having 
behind us the commercial interests and the laboring interests and all the 
toiling masses, we shall answer their demands for a gold standard by saying 
to them you shall not press down upon the brow of labor this crown of 
thorns. You shall not crucify mankind upon a cross of gold. 



CHAPTER XXXVII. 

1896 PARTY PLATFORMS— A REVIEW. 



BY THE AUTHOR. 

The Democratic, Populist and Silver Republican parties, work- 
ing unitedly, or at least a large majority of each, on the one side, 
against the Republican party on the other, now seem almost be^- 
yond question to be the antagonistic political forces that will be 
arrayed in opposing lines, 1897- 1900, and intervening years. There 
will be lesser parties, as there have been for the last fifty years, 
but the great conflict will be waged as above, on issues as im- 
portant, at least some of them, as any that have ever divided 
the American people. 

In view of these facts, the author herein presents the platform 
of principles of the several parties — Democrat, Populist and Sil- 
ver Republican — as adopted in the national convention of each in 
1896. These platforms appear in the order named, and although 
the one great financial issue is made paramount in all, the reader 
will not fail to see that other important subjects, upon which the 
three parties named generally harmonize, are earnestly pressed 
upon the attention of the American people. 

To a few of the topics considered, the reader is here specially 
referred; some one or more of the subjects named appear in all 
the platforms, showing how widespread is the agitation, and the 
interests of the people. 

The money question is made prominent in all; including the 
demonetization of silver, the adoption of the gold standard, and 
the methods by which these nefarious schemes were accomplished; 
opposition to the issue of interest bearing bonds in times of peace, 
and to the payment in gold for bonds otherwise provided for. 
Congress alone has power to coin and issue money; therefore, 
congress alone has the constitutional power to issue money to 
be made a legal tender for public or private debts. Tariff duties 
should be collected for revenue only, to be so adjusted as to 
operate equally throughout the country. Favor an income tax. 
Prevention of importation of foreign labor. Favor arbitration be- 
tween employer and employed. Opposition to arbitrary interference 
by the federal authorities in local affairs. Recognizing the just 

343 



344 THE SILVER SIDE— Campaign Text-Book. 

claim of Union soldiers. Favor the admission of territories. The 
Monroe doctrine to be maintained. Opposed to third terms. In 
favor of the distinctly American system, of finance. Restoration 
of silver independent of any other government. Unrestricted coin- 
age of gold and silver into standard money at the ratio of 16 to I, 
as they existed prior to 1873, the silver coin to be full legal 
tender equally with gold. Fall of prices increasing the burden of 
the debtor, swelling the gains of the creditor, and all the evils 
that have followed, the result of demonetization of silver. Oppo- 
sition to corporate monopolies. Demand an increase of money per 
capital. Demand that the United States in payment of its obliga- 
tions shall use its option as to the kind of lawful money in which 
they are to be paid. Demand that postal savings banks shall be 
established by the government for the safe deposit of the savings* 
of the people and to facilitate exchange. Demand that the govern- 
ment own and operate the railroads in the interest of the people. 
The telegraph line, like the post office system, be owned and opera- 
ted by the government. Land should not be monopolized for 
speculative purposes. Direct legislation favored through the 
initiative and referendum. The election of president, vice-president 
and United States senators by direct vote of the people demanded. 
All public salaries should be made to correspond to the price of 
labor and its products. 

The author is glad to be able to say all the subjects above re- 
ferred to, and the names of writers advocating the principles enunci- 
ated, will be found in the copious table of contents, and one or 
more treatises on each, by the ablest writers of the country, making 
"The Silver Side" really, and in every sense of the term, a political 
text-book to which the reader can always refer, confident of find- 
ing an elucidation of the subject for which he may be searching. 

These platforms are presented to the intelligent reader of 'The 
Silver Side," which, with information on all mooted political topics 
embraced in other chapters of the work, will qualify him by care- 
ful study to successfully present the real issues of the country to 
any person or before any audience of his fellow citizens. 

Democratic Platform — (Chicago). 

We, the Democrats of the United States, in national convention 
assembled, do reaffirm our allegiance to those great essential princi- 
ples of justice and liberty upon which our institutions are founded, 
and which the Democratic party has advocated from Jefferson's 
time to our own — freedom of speech, freedom of the press, freedom 
of conscience, the preservation of personal rights, the equality of all 
citizens before the law, and the faithful observance of constitutional 
limitations. 



1896 PARTY PLATFORMS— A REVIEW. 345 

During all these years the Democratic party has resisted the 
tendency of selfish interests to the centralization of governmental 
power, and steadfastly maintained the integrity of the dual scheme 
of government established by the founder of this republic of re- 
publics. Under its guidings and teachings, the great principle of 
local self-government has found its best expression in the main- 
tenance of the rights of the states, and in its assertion of the neces- 
sity of confining the general government to the exercise of the 
powers granted by the constitution of the United States. 

The constitution of the United States guarantees to every citizen 
the rights of civil and religious liberty. The Democratic party has 
always been the exponent of political liberty and religious freedom, 
and it renews its obligations and reaffirms its devotion to these 
fundamental principles of the constitution. 

Recognizing that the money question is paramount to all others 
at this time, we invite attention to the fact that the federal constitu- 
tion named silver and gold together as the money metals of the 
United States, and that the first coinage law passed by congress 
under the constitution made the silver dollar the monetary unit and 
admitted gold to free coinage at a ratio based upon the silver 
dollar unit. 

We declare that the act of 1873, demonetizing silver without 
the knowledge or approval of the American people, has resulted 
in the appreciation of gold and a corresponding fall in the prices of 
commodities produced by the people ; a heavy increase in the burden 
of taxation and of all debts, public and private; the enrichment of 
the money-lending class at home and abroad; the prostration of 
industry and impoverishment of the people. 

We are unalterably opposed to monometallism which has locked 
fast the prosperity of an industrial people in the paralysis of hard 
times. Gold monometallism is a British policy, and its adoption has 
brought other nations into financial servitude to London. It is not 
only un-American, but anti-American, and it can be fastened on 
the United States only by the stifling of that spirit and love of liberty 
which proclaimed our political independence in 1776 and won it 
in the war of the Revolution. 

We demand the free and unlimited coinage of both silver and 
gold at the present legal ratio of 16 to 1 without waiting for the 
aid or consent of any other nation. We demand that the standard 
silver dollar shall be a full legal tender, equally with gold, for 
all debts, public and private, and we favor such legislation as 
will prevent for the future the demonetization of any kind of legal 
tender money by private contract. 

We are opposed to the policy and practice of surrendering to 
the holders of the obligations of the United States the option re- 



346 THE SILVER SIDE— Campaign Text-Book. 

served by law to the government of redeeming such obligations 
in either silver coin or gold coin. 

We are opposed to the issuing of interest bearing bonds of 
the United States in time of peace, and condemn the trafficking with 
banking syndicates, which, in exchange for bonds and at an 
enormous profit to themselves, supply the federal treasury with 
gold to maintain the policy of gold monometallism. 

Congress alone has the power to coin and issue money, and 
President ' Jackson declared that this power could not be dele- 
gated to corporations or individuals. We therefore denounce the 
issuance of notes intended to circulate as money by national banks 
as in derogation of the constitution, and we demand that all paper 
which is made a legal tender for public and private debts, or 
which is receivable for dues to the United States, shall be issued 
by the government of the United States and shall be redeem- 
able in coin. 

We hold that tariff duties should be levied for purpose of 
revenue, such duties to be so adjusted as to operate equally through- 
out the country and not discriminate between class or section, and 
that taxation should be limited by the needs of the government 
honestly and economically administered. We denounce as dis- 
turbing to business the Republican threat to restore the McKinley 
law, which has twice been condemned by the people in national 
election, and which, enacted under the false plea of protection to 
home industries, proved a prolific breeder of trusts and monopolies, 
enriched the few at the expense of the many, restricted trade and 
deprived the producers of the great American staples of access to 
their natural markets. 

Until the money question is settled we are opposed to any 
agitation for further changes in our tariff laws, except such as are 
necessary to meet the deficit in revenue caused by the adverse 
decision of the supreme court on the income tax. But for this 
decision by the supreme court there would be no deficit in the 
revenue under the law passed by a Democratic congress in strict 
pursuance of the uniform decisions of that court for nearly ioo 
years, that court having in that decision sustained constitutional 
objections to its enactment, which had previously been overruled 
by the ablest judges who have ever sat on that bench. We declare 
that it is the duty of congress to use all the constitutional power 
which remains after that decision or which may come from its re- 
versal by the court as it may hereafter be constituted, so that the 
burdens of taxation may be equally and impartially laid, to the 
end that wealth may bear its due proportion of the expense of the 
government. 

We hold that the most efficient way of protecting American 



1896 PARTY PLATFORMS— A REVIEW. 347 

labor is to prevent the importation of foreign pauper labor to 
compete with it in the home market, and that the value of the home 
market to our American farmers and artisans is greatly reduced 
by a vicious monetary system which depresses the prices of their 
products below the cost of production, and thus deprives them 
of the means of purchasing the products of our home manufao 
tories; and as labor creates the wealth of the country, we demand 
the passage of such laws as may be necessary to protect it in all 
its rights. 

We are in favor of the arbitration of differences between em- 
ployers engaged in inter-state commerce and their employes, and 
recommend such legislation as is necessary to carry out this 
principle. 

The absorption of w r ealth by the few, the consolidation of our 
leading railroad systems and the formation of trusts and pools 
require a stricter control by the federal government of those arteries 
of commerce. We demand the enlargement of the powers of the 
inter-state commerce commission and such restriction and guaran- 
ties in the control of railroads as will protect the people from 
robbery and oppression. 

We denounce the profligate waste of the money wrung from 
the people by oppressive taxation and the lavish appropriations of 
recent Republican congresses, which have kept taxes high, while 
the labor that pays them is unemployed and the products of the 
people's toil are depressed in price till they no longer repay the 
cost of production. We demand a return to that simplicity and 
economy which befits a democratic government, and a reduction in 
the number of useless offices, the salaries of which drain the sub- 
stance of the people. 

We denounce arbitrary interference by federal authorities in 
local affairs as a violation of the constitution of the United States 
and a crime against free institutions, and we especially object to 
government by injunction as a new and highly dangerous form 
of oppression by which federal judges, in contempt of the laws of 
the states and rights of citizens, become at once legislators, judges, 
and executioners; and we approve the bill passed at the last session 
of the United States senate, and now pending in the house of 
.epresentatives, relative to contempts in federal courts and provid- 
ing for trials by jury in certain cases of contempt. 

No discrimination should be indulged in by the government of 
the United States in favor of any of its debtors. We approve of the 
refusal of the fifty-third congress to pass the Pacific railroad funding 
bill, and denounce the effort of the present Republican congress to 
enact a similar measure. 

Recognizing the just claims of deserving Union soldiers, we 



348 THE SILVER SIDE— Campaign Text-Book. 

heartily indorse the rule of the present commissioner of pensions, 
that no names shall be arbitrarily dropped from the pension roll; 
and the fact of enlistment and service should be deemed con- 
clusive evidence against disease and disability before enlistment. 

We favor the admission of the territories of New Mexico, Ari- 
zona and Oklahoma, into the Union as states, and we favor the 
early admission of all the territories having the necessary population 
and resources to entitle them to statehood, and, while they remain 
territories, 'we hold that the officials appointed to administer the 
government of any territory, together with the District of Columbia 
and Alaska, should be bona fide residents of the territory or dis- 
trict in which their duties are to be performed. The Democratic 
party believes in home rule, and that all public lands of the 
United States should be appropriated to the establishment of free 
homes for American citizens. 

We recommend that the territory of Alaska be granted a dele- 
gate in congress, and that the general land and timber laws of the 
United States be extended to said territory. 

The Monroe doctrine, as originally declared, and as interpreted 
by succeeding presidents, is a permanent part of the foreign policy 
of the United States, and must at all times be maintained. 

We extend our sympathy to the people of Cuba in their 
heroic struggle for liberty and independence. 

We are opposed to life tenure in the public service, except as 
provided in the constitution. We favor appointments based on 
merit, fixed terms of office, and such an administration of the 
civil service laws as will afford equal opportunities to all citizens 
of ascertained fitness. 

We declare it to be the unwritten law of this republic, es- 
tablished by custom and usage of ioo years and sanctioned by the 
examples of the greatest and wisest of those who founded and have 
maintained our government, that no man should be eligible for a 
third term of the presidential office. 

The federal government should care for and improve the Missis- 
sippi river and other great waterways of the republic, so as to 
secure for the interior states easy and cheap transportation to 
tide water. When any waterway of the republic is of sufficient 
importance to demand aid of the government, such aid should be 
extended upon a definite plan of continuous work until permanent 
improvement is secured. 

Confiding in the justice of our cause and the necessity of its 
success at the polls, we submit the foregoing declaration of princi- 
ples and purposes to the considerate judgment of the American 
people. We invite the support of all citizens who approve them and 
who desire to have them made effective through legislation, for 



1896 PARTY PLATFORMS— A REVIEW. 349 

the relief of the people and the restoration of the country's pros- 
perity. 

Silver Platform. 

The National Silver party, in convention assembled, makes this 
declaration of its principles: 

First — The paramount issue at this time in the United States is 
indisputably the money question. It is between the gold standard, 
gold bonds and bank currency on the one side, and the bimetallic 
standard, no bonds and government currency on the other. 

On this issue we declare ourselves to be in favor of a 
distinctively American system. We are unalterably opposed to the 
single gold standard, and demand immediate return to the con- 
stitutional standard of gold and silver, by restoration by this gov- 
ernment, independently of any .foreign power, of the unrestricted 
coinage of both gold and silver into standard money, at the ratio 
of 1 6 to I, and upon terms of exact equality as they existed 
prior to 1873; the silver coin to be full legal tender equally with 
gold for all debts and dues, public and private, and we favor such 
legislation as will prevent for the future the demonetization of any 
kind of legal tender money by private contract. 

We hold that the power to control and regulate paper currency 
is inseparable from the power to coin money; and hence that all 
currency intended to circulate as money should be issued and its 
volume controlled by the general government only, and should be 
legal tender. 

We are unalterably opposed to the issue by the United States 
of interest-bearing bonds in the time of peace, and we denounce 
as a blunder worse than a crime the present treasury policy, con- 
curred in by a Republican house, of plunging the country in debt 
by hundreds of millions in the vain attempt to maintain the gold 
standard by borrowing gold, and we demand the payment of all 
coin obligations of the United States, as provided by existing 
laws, in either gold or silver coin, at the option of the government, 
and not at the option of the creditor. 

The demonetization of silver in 1873 enormously increased the 
demand for gold, enhancing its purchasing power and lowering all 
prices measured by that standard. And since that unjust and in- 
defensible act, the prices of American products have fallen upon 
an average nearly 50 per cent., carrying down with them pro- 
portionately the money value of all other forms of property. 

Such fall of prices has destroyed the profits of legitimate in- 
dustry, injuring the producer for the benefit of the non-producer, 
increasing the burden of the debtor, swelling the gains of the 
creditor, paralyzing the productive energies of the American peo- 
ple, relegating to idleness vast numbers of willing workers, sending 



350 THE SILVER SIDE— Campaign Text-Book 

the shadows of despair into the home of the honest toiler, filling 
the land with tramps and paupers, and building up colossal fortunes 
at the money centers. 

In the effort to maintain the gold standard the country has 
within the last two years in a time of peace and plenty been 
loaded down with $262,000,000 of additional interest-bearing debt 
under such circumstances as to allow a syndicate of native and 
foreign bankers to realize a net profit of millions on a single 
deal. It stands confessed that the gold standard can only be 
upheld by so depleting our paper currency as to force the prices 
of our products below the European and even below the Asiatic 
level, to enable us to sell in foreign markets, thus aggravating 
the very evils of which our people so bitterly complain, degrad- 
ing American labor and striking at the foundations of our civiliza- 
tion itself. 

The advocates of the gold standard persistently claim that the 
cause of our distress is over-production — that we have produced so 
much that it has made us poor — which implies that the true remedy 
is to close the factory, abandon the farm and throw the multitude 
of people out of employment. A doctrine that leaves us unnerved 
and disheartened and absolutely without hope for the future. We 
affirm it to be unquestioned that there can be no such economic 
paradox as overproduction and at the same time tens of thou- 
sands of our fellow citizens remaining half-clad and half-fed and 
who are piteously clamoring for the common necessities of life. 

Over and above all other questions of policy, we are in favor 
of restoring to the people of the United States the time-honored 
money of the constitution, gold and silver, not one, but both, the 
money of Washington and Hamilton, and Jefferson, and Monroe, 
and Jackson, and Lincoln, to the end that the American people 
may receive honest pay for an honest product; that the American 
debtor may pay his just obligations in an honest standard and 
not in a standard that has appreciated 100 per cent, above all the 
great staples of our country; and to the end, further, that silver 
standard countries may be deprived of the unjust advantage they 
now enjoy in the difference in exchange between gold and sil- 
ver, an advantage which tariff legislation alone cannot overcome. 

We, therefore, confidently appeal to the people of the United 
States to leave in abeyance for the moment all other questions, 
however important, and even momentous, they may appear, to 
sunder, if need be, all former ties and affiliations, and unite in 
one supreme effort to free themselves and their children from 
the domination of the money power, a power more destructive than 
any which has ever been fastened upon the civilized men of any 



1896 PARTY PLATFORMS— A REVIEW. 351 

race or any age. And upon the consummation of our desires and 
efforts, we invoke the gracious favor of Divine Providence. 

Inasmuch as the patriotic majority of the Chicago conven- 
tion embodied in the financial plank of its platform the principle 
enunciated in the platform of the American Bimetallist party, pro- 
mulgated at Washington, D. C, January 22, 1896, and herein re- 
iterated, which is not only paramount, but the only real issue in 
the pending campaign, therefore recognizing that their nominees 
embody these patriotic principles, we recommend that this con- 
vention nominate William J. Bryan, of Nebraska, for president, 
and Arthur Sewall, of Maine, for vice-president. 

People's Party Platform. 

The People's party, assembled in national convention, reaffirms 
its allegiance to the principles declared by the founders of the repub- 
lic and also to the fundamental principles of just government as 
enunciated in the platform of the party in 1892. We recognize 
that through the connivance of the present and preceding adminis- 
trations the country has reached a crisis in its national life, as 
predicted in our. declarations four years ago, and that prompt and 
patriotic action is the supreme duty of the hour. We realize that 
while we have political independence, our financial and industrial 
independence is yet to be attained by restoring to our country 
the constitutional control and exercise of the functions necessary to 
a people's government, which functions have been basely surren- 
dered by our public servants to corporate monopolies. The 
influence of European money changers has been more potent in 
shaping legislation than the voice of the American people. Execu- 
tive power and patronage have been used to corrupt our legisla- 
tures and defeat the will of the people, and plutocracy has thereby 
been enthroned upon the ruins of the democracy. To restore the 
government intended by the fathers and for the welfare and pros- 
perity of this and future generations, we demand the establishment 
of an economic and financial system which shall make us masters 
of our own affairs, independent of European control, by the adop- 
tion of the following declaration of principles : 

We demand a national money, safe and sound, issued by the 
general government only, without the intervention of banks of 
issue, to be a full legal tender for all debts, public and private; a 
just, equitable and efficient means of distribution direct to the peo- 
ple, and through the lawful disbursements of the government. 

We demand the free and unrestricted coinage of silver and gold 
at the present legal ratio of 16 to 1 by the United States without 
waiting for the consent of foreign nations. 

We demand that the volume of circulating medium be speedily 



352 THE SILVER SIDE— Campaign Text-Book. 

increased to an amount sufficient to meet the demands of the busi- 
ness and population of this country, and to restore the just level 
of prices of labor and production. 

We denounce the sale of bonds and the increase of the public 
interest-bearing debt made by the present administration as un- 
necessary and without authority of law, and demand that no more 
bonds be issued except by specific act of congress. 

We demand such legislation as will prevent the demonetization 
of the lawful money of the United States by private contract. 

We demand that the government in payment of its obligations 
shall use its option as to the kind of lawful money in which they are 
to be paid, and we denounce the present and preceding adminis- 
trations for surrendering this option to the holders of government 
obligations. 

We demand a graduated income tax to the end that aggregated 
wealth shall bear its just proportion of taxation, and we regard 
the recent decision of the supreme court relative to the income 
tax law as a misinterpretation of the constitution and an invasion 
of the rightful powers of congress over the subject of taxation. 

We demand that postal savings banks be established by the 
government for the safe deposit of the savings of the people and to 
facilitate exchange. 

Transportation being a means of exchange and a public neces- 
sity, the government should own and operate the railroads in the 
interest of the people and on a non-partisan basis, to the end that 
all may be accorded the same treatment in transportation, and 
that the tyranny and political power now exercised by the great 
railroad corporations, which result in the impairment, if not the 
destruction, of the political rights and personal liberties of the 
citizen, may be destroyed. Such ownership is to be accomplished 
gradually in a manner consistent with sound public policy. The 
interest of the United States in the public highways, built with 
public moneys and the proceeds of extensive grants of land to 
the Pacific railroads, should never be alienated, mortgaged or sold, 
but guarded and protected for the general welfare as provided by 
the laws organizing such railroads. The foreclosure of existing 
liens of the United States on these railroads should follow de- 
fault in payment thereof by the debtor companies, and at the 
foreclosure sales of said roads the government shall purchase the 
same if it become necessary to protect its interest therein, or if 
tTiey can be purchased at reasonable price, and the government 
shall operate said railways as public highways for the benefit of the 
whole people and not in the interest of the few, under suitable pro- 
visions for protection of life and property, giving to all trans- 



1896 PARTY PLATFORMS— A REVIEW. 353 

portation interests, equal privileges and equal rates for fares and 
freights. 

We denounce the present infamous schemes for refunding these 
debts and demand that the laws now applicable thereto be execu- 
ted and administered according to their true intent and spirit. 

The telegraph, like the post office system, being a necessity 
for the transmission of news, should be owned and operated by 
the government in the interest of the people. 

A true policy demands that the national and state legisla- 
tion shall be such as will ultimately enable every prudent and 
industrious citizen to secure a home, and, therefore, the land should 
not be monopolized for speculative purposes. The lands now occu- 
pied by railroads and other corporations in excess of their actual 
needs should, by lawful means, be reclaimed by the government 
and held for actual settlers only, and private land monopoly, as 
well as alien ownership, should be prohibited. 

We condemn the frauds by which the land grants to the 
Pacific railroad companies have, through the connivance of the 
interior department, robbed multitudes of actual and bona fide set- 
tlers of their homes and miners of their claims, and we demand 
legislation by congress which will enforce the exemption of mineral 
lands from such grants after as well as before patent. 

We demand that bona fide settlers on all public lands be 
granted free homes as provided in the national homestead law, 
and that no exception be made in the case of Indian reserva- 
tions when opened for settlement, and that all lands not now 
patented come under this demand. 

We favor a system of direct legislation through the initiative 
and referendum under proper constitutional safeguards. 

We demand the election of president, vice-president and United 
States senators by the direct vote of the people. 

We tender to the patriotic people of Cuba our deepest sym- 
pathy in their heroic struggle for political freedom and independ- 
ence, and we believe the time has come when the United States, 
the great republic of the world, should recognize that Cuba is, and 
of right ought to be, a free and independent state. 

We favor home rule in the territories and the District of Colum- 
bia, and the early admission of the territories as states. 

All public salaries should be made to correspond to the price 
of labor and its products. 

In times of great industrial depression, idle labor should be 
employed on public works as far as practicable. 

Arbitrary course of the courts in assuming to imprison citizens 
for indirect contempt and ruling by injunction should be pre- 
vented by proper legislation. 



354 THE SILVER SIDE— Campaign Text-Book. 

We favor just pensions for our disabled Union soldiers. 

Believing that the elective franchise and untrammeled ballot are 
essential to a government of, for and by the people, the People's 
party condemns the wholesale system of disfranchisement adopted 
in some of the states as unrepublican and undemocratic, and we 
declare it to be the duty of the several state legislatures to take 
such action as will secure a full, free and fair ballot and an honest 
count. 

While the foregoing propositions constitute the platform upon 
which our party stands, and for the vindication of which its or- 
ganization will be maintained, we recognize that the great and 
pressing issue of the pending campaign upon which the present 
presidential election will turn is the financial question, and 
upon this great and specific issue between the parties we cordially 
invite the aid and co-operation of all organizations and citizens 
agreeing with us upon this vital question. 

With the founders of the American republic we hold that the 
purpose of government is to secure every citizen in the enjoyment 
of this right; but in the light of our social conditions we hold, 
furthermore, that no such right can be exercised under a system of 
economic inequality, essentially destructive of life, of liberty and of 
happiness. 

Socialist Labor Platform, 

With the founders of this republic we hold that the true theory 
of politics is that the machinery of government must be owned 
and controlled by the whole people; but in the light of our in- 
dustrial development we hold, furthermore, that the true theory 
of economics is that the machinery of production must likewise 
belong to the people in common. 

To the obvious fact that our despotic system of economics is 
the direct opposite of our democratic system of politics, can plainly 
be traced the existence of a privileged class, the corruption of 
government by that class, the alienation of public property, public 
franchises and public functions to that class, and the abject depend- 
ence of the mightiest of nations upon that class. 

Again, through the perversion of democracy to the ends of 
plutocracy, labor is robbed of the wealth which it alone produces, 
is denied the means of self-employment, and, by compulsory idle- 
ness in wage slavery, is even deprived of the necessaries of life. 

Human power and natural forces are thus wasted, that the 
plutocracy may rule. 

Ignorance and misery, with all their concomitant evils, are per- 
petuated that the people may be kept in bondage. 

Science and invention are diverted from their humane purpose 
to the enslavement of women and children. 

Against such a system the Socialist Labor party once more 



1896 PARTY PLATFORMS— A REVIEW. 355 

enters its protest. Once more it reiterates its fundamental declara- 
tion that private property in the natural sources of production and 
in the instruments of labor is the obvious cause of all economic 
servitude and political dependence. 

The time is fast coming when, in the natural course of social 
evolution, this system, through the destructive action of its failures 
and crises on the one hand, and the constructive tendencies of its 
trusts and other capitalistic combinations on the other hand, shall 
have worked out its own downfall. 

We, therefore, call upon the wage workers of the United States, 
and upon all other honest citizens, to organize under the banner 
of the Socialist Labor party into a class-conscious body, aware of 
its rights and determined to conquer them by taking possession of 
the public powers; so that, held together by an indomitable spirit 
of solidarity under the most trying conditions of the present class 
struggle, we may put a summary end to that barbarous struggle 
by the abolition of classes, the restoration of the land and of all the 
means of production, transportation and distribution to the people 
as a collective body, and the substitution of the co-operative com- 
monwealth for the present state of planless production, industrial 
war and social disorder; a commonwealth in which every worker 
shall have the free exercise and full benefit of his faculties, multi- 
plied by all the modern factors of civilization. 

Resolutions. 

With a view to immediate improvement in the condition of labor 
we present the following demands: 

1. Reduction of the hours of labor in proportion to the prog- 
ress of production. 

2. The United States shall obtain possession of the railroads, 
canals, telegraphs, telephones and all other means of public trans- 
portation and communication; the employes to operate the same 
co-operatively under control of the federal government and to elect 
their own superior officers, but no employe shall be discharged for 
political reasons. 

3. The municipalities shall obtain possession of the local rail- 
roads, ferries, water works, gas works, electric plants and all indus- 
tries requiring municipal franchises; the employes to operate the 
same co-operatively under control of the municipal administration 
and to elect their own superior officers, but no employes shall be 
discharged for political reasons. 

4. The public lands declared inalienable. Revocation of all 
land grants to corporations or individuals, the conditions of which 
have not been complied with. 

5. The United States have the exclusive right to issue money. 



356 THE SILVER SIDE— Campaign Text-Book, 

6. Congressional legislation providing for the scientific man- 
agement of forests and waterways and prohibiting the waste of the 
natural resources of the country. 

7. Inventions to be free to all; the inventors to be remunerated 
by the nation. 

8. Progressive income tax and tax on inheritances; the smaller 
incomes to be exempt. 

9. School education of all children under fourteen years of age 
to be compulsory, gratuitous and accessible to all by public assist- 
ance in meals, clothing, books, etc., where necessary. 

10. Repeal of all pauper, tramp, conspiracy and sumptuary 
laws. Unabridged right of combination. 

11. Prohibition of the employment of children of school age 
and the employment of female labor in occupations detrimental to 
health or morality. Abolition of the convict labor contract system. 



CHAPTER XXXVIII. 

PRESIDENTIAL ELECTION OF 1896— ITS RESULTS. 



BY THE AUTHOR. 

On the 3d day of November, 1896, seventy millions of the four- 
teen hundred millions of the people of the globe had the privilege 
of choosing their own rulers. The seventy millions were the fortu- 
nate residents of the United States; they were represented at the 
polls by 13,924,659 voters. Wm. McKinley for president of the 
United States received 7,109,480, Wm. J. Bryan 6,508,687 — a 
plurality of 600,799 f° r McKinley. Lesser parties received votes as 
follows: The Sound Money Democratic for Palmer, 132,056; the 
Prohibition vote for Levering, 127,174; Socialist vote, 33,942, and 
the National or Free Silver Prohibition party, 13,320 — a total 
vote in the United States 13,924,659. McKinley 's majority over all 
294,301. 

We shall not further specially refer to the lesser parties; their 
votes do not materially affect the result. 

It will be observed, and it is well understood by all, that the 
result, as stated above, was not obtained by a direct vote of the citi- 
zens; had it been, as the writer verily believes it will be in the not 
very distant future, the result might have been, probably would have 
been, different. The present mode of procedure is not purely dem- 
ocratic, there is too much circumlocution about it, too many oppor- 
tunities to thwart the will of the people, not only in the election of 
president and United States senators, but of other federal officers. 
Trust the people! Let them vote directly for all officers, state and 
national. From an economic standpoint, if no other, it should be 
favorably considered, leaving other advantages out of the question; 
millions of dollars would be saved, as must be admitted by all who 
will reflect. Let us glance at the present 

Modus Operandi of Electing President — Certainly Not Democratic. 
The method of election has been changed once for the better. 
In the early days of the republic nominations were made, either by 
members of congress or the state legislature. The party that re- 
ceived the highest vote should be president, the next highest vice- 
president. This worked quite satisfactorily up to 1824, the time of 
the election of John Quincy Adams. Complications then arose 

357 



358 THE SILVER SIDE— Campaign Text-Book. 

causing a change. The present system has since been followed, but 
it is not difficult to see that by reason of complications of party inter- 
ests, and specially since the corrupt period has come when state leg- 
islatures, congress, and party conventions are controlled by money, 
the people must insist upon abolishing the barriers established 
between themselves and their servants, the governing powers, and 
allow approach direct to the ballot box, the citizens' fortress of pro- 
tection and defense. 

On the morning of November 4th it was said Wm. McKinley 
was elected president, but it was a mistake. Men living in the differ- 
ent states had voted for men named as electors, it is true, with the 
understanding that they would on a certain day in the future cast 
the vote of their state for him, but he was not president or even 
president-elect until the appointed representatives of the people 
met at the capitals of their respective states, two months intervening, 
and there cast the formal electoral vote. They could legally have 
cast votes for Wm. J. Bryan or any other. The state electors at 
their state meeting appoint one of their number to bear the returns 
to Washington where they are subsequently canvassed by congress 
and the vote declared. 

On the election of the United States senators there is usually 
as much, even more, unnecessary machinery, and in more than half 
the recent elections by state legislatures the will of the people has 
been defeated, either by corrupt means or otherwise. All these un- 
democratic methods have come from the mistake of the founders 
of the republic, their unwillingness to trust the people. They 
thought that judges, ministers to foreign courts, etc., must be ap- 
pointed. This was the old English of it, not yet outgrown by Amer- 
icans, but Americans are getting nearer every year to trusting all 
to the people. 

Not until the 10th day of December could it truly be said Wm. 
McKinley is president and Garret A. Hobart vice-president. The 
votes of the several candidates on that day as canvassed by congress, 
agreeably to the constitutional provisions, were as follows: 

The Official Vote. 

Washington, Feb. 10. — The result of the late election, as offi- 
cially canvassed by the house today, is as follows: 



PRESIDENTIAL ELECTION OF 1896— ITS RESULTS. 



359 



STATES. 



Alabama 

Arkansas 

California 8 

Colorado 

Connecticut 6 

Delaware 3 

Florida 

Georgia 

Idaho 

Illinois 24 

Indiana 15 

Iowa 13 

Kansas 

Kentucky 12 

Louisiana 

Maine 6 

Maryland 8 

Massachusetts 15 

Michigan 14 

Minnesota 9 

Mississippi 

Missouri 

Montana 

Nebraska 

Nevada 

New Hampshire 4 

New Jersey 10 

New York 36 

North Carolina 

North Dakota 3 

Ohio 23 

Oregon 4 

Pennsylvania 32 

Rhode Island 4 

South Carolina 

South Dakota ' 

Tennessee 

Texas 

Utah 

Vermont 4 

Virginia 

Washington 

West Virginia 6 

Wisconsin 12 

Wyoming 



m 
11 
8 



4 
13 
3 



10 

1 
8 



9 
V 

3 
8 

3 



24 
15 
13 



15 
15 
9 



4 
10 
36 

3 
23 

4 
32 

4 



6 
12 



11 
5 
1 
4 



4 
13 
3 



9 
13 
2 

4 
3 



12 
15 



Totals 271 176 271 149 27 

The result of the meeting of the electoral colleges of the several 
states of the Union on Monday was the election of William McKin- 
ley for president and Garret A. Hobart for vice-president of the 
United States. The electoral vote and the approximate pluralities 
are as follows: 



360 THE SILVER SIDE— Campaign Text-Book. 

For McKinley. _,, _ Electoral 

Plurality. Vote. 

California 1,822 8 

Connecticut 53,557 6 

Delaware 3,693 3 

Illinois 142,607 24 

Indiana 18,403 15 

Iowa 65,552 13 

Kentucky 281 12 

Maine 48,208 6 

Maryland 32,232 8 

Massachusetts 188,440 15 

Michigan 56,076 14 

Minnesota 53,778 9 

New Hampshire 36,173 4 

New Jersey 87,692 10 

New York 268,469 36 

North Dakota 5,699 3 

Ohio 53,104 23 

Oregon i,972 4 

Pennsylvania 301,871 32 

Rhode Island 22,978 4 

Vermont 40,845 4 

West Virginia 10,888 6 

Wisconsin 102,612 12 

Total 271 

T7«« R„ M « Electoral 

for Bryan. Plurality. Vote. 

Alabama 53.400 1 1 

Arkansas 66,682 8 

Colorado 132,609 4 

♦California 1 

Florida 18,872 4 

Georgia 34J42 13 

Idaho 16,968 3 

Kansas 12,269 10 

♦Kentucky 1 

Louisiana 55,138 8 

Mississippi 30,084 9 

Missouri 58,712 17 

Montana 32,047 3 

Nevada 5,864 3 

Nebraska 13,070 8 

North Carolina 19,266 II 

South Carolina 49,488 9 

South Dakota 72 4 

Tennessee 14,878 12 

Texas 125,817 15 

Utah 53,592 3 

Virginia 20,627 12 

Washington 13,072 4 

Wyoming 66 3 

Total 176 

♦McKinley carried these states except on one elector in each. 



PRESIDENTIAL ELECTION OF 1896-ITS RESULTS. 361 

It will be seen by the above that the favorable decision for the 
gold party was far from being a decisive victory against free coin- 
age; one-half of the 42,878 votes given to the gold candidate would 
have defeated McKinley. The following statements show how very 
close was the vote: 

McKinley's McKinley's 
Electoral Vote. Plural ity . 

West Virginia 6 12,000 

Kentucky 12 258 

Oregon 4 2,114 

California 9 3,291 

North Dakota 3 5.150 

Indiana 15 20,065 

Totals 49 42,878 

The forty-nine electoral votes received by McKinley in these 
states added to the 176 electoral votes received by Bryan would have 
elected the latter. A change of about 23,000 votes distributed 
properly in the above states would have changed the result. Bryan's 
plurality in Colorado alone is more than three times the total plural- 
ity of McKinley in these six states. 

When all th£ attending circumstances, under which the first 
battle was fought, the fact that all the needed money power of the 
United States and England, all the trusts, banking, railroad, and 
largely the manuacturing monopolies of the eastern and middle 
states were arrayed against a newly formed party, triune in its com- 
position; not unlike a new army composed of new recruits brought 
into a raging battle; the three divisions, Democratic, Populist and 
Silver Republican, without time for previous mutual arrangement 
of plans and preparation, considering all this, and the fact that their 
opponents were long tried, well-drilled soldiers, officered by the 
shrewdest politicians, it is indeed marvelous that the victory for 
gold was not greater. It can only be accounted for the good reason 
that the people realized the righteousness of the c.use for which 
they were contending, and fought as only patriots can right in a 
just cause. * * * To place still more clearly before our read- 
ers the result of the election in the several states and the nation, 
the author is indebted to W. B. Conkey Company for the use of 
two illustrated maps, one representing a view of the election of 1892, 
the other of the election of 1896. Comparing these, realizing the 
tremendous gain, no one can reasonably doubt the result of the 
pending conflict in 1900. These maps appear on the pages imme- 
diately preceding this chapter. 

The author cannot better express his thoughts on this subject 
than by quoting the eloquent, impressive words of him who was 
chief in the great battle, qualified and well worthy to be, and we do 



362 THE SILVER SIDE— Campaign Text-Book. 

not believe that all the powers of darkness, as combined in the 
money power, can prevent his leadership throughout this the great 
closing contest of the century, and its successful issue. In the arti- 
cle referred to he says: 

In spite of the administration and its supporters; in spite of the threats 
of money loaners at home and abroad; in spite of the coercion practiced by- 
corporate employers; in spite of trusts and syndicates; in spite of an enor- 
mous Republican campaign fund, and in spite of the influence of a hostile 
daily press, bimetallism has almost triumphed in its first great fight. The 
loss of a few states, and that, too, by very small pluralities, has defeated 
bimetallism for the present, but bimetallism emerges from the conflict 
stronger than before. 

Its Results. 

Who can foretell? We see what it is on the face of the figured 
return, but that is a trifle as compared with the great results to the 
nation and individuals in the coming years. Temporary defeat of 
the party under such circumstances is not discouraging; in fact, it 
now looks more likely to prove a blessing than otherwise. The young 
forest tree, swayed 1 y the tempest winds, strikes its roots deeper 
into the soil, thereby becomes the stronger, and finally the gigantic 
oak, blessing the world; even so with all organic life, efforts for the 
right always strengthen, the temporary defeat has caused a rally; 
a newly awakened and determined spirit at this moment pervades 
the entire force, increasing day by day, and now giving promise of a 
victory that will be far more decisive and effective for the perma- 
nent good of the country than would have been a victory in 1896. 

The cry since the election has been long and loud: The silver 
cause is forever defeated. In answer to this senseless cry, a corre- 
spondent sends an appropriate poem, which with slight change is 
here transcribed: 

Is the Silver Cause Defeated? 

Six million sires and sons of men 

Who dare the threatened famine; 
Six million hearts, whose love of man 

Exceeded love of mammon; 
Six million patriot volunteers, 

A gallant leader greeted, 
And herald down the coming years: 

"The cause is not defeated." 

Defeat the right! Thou son of man, 

Small wonder thy misgiving; 
The life born out of Bethlehem 

Was never worth the living. 



PRESIDENTIAL ELECTION OF 1896— ITS RESULTS. 363 

When Judas did the traitor's deed. 

And with the rabble treated, 
By selling soul for gold and greed, 

Was God's own cause defeated? 

Can might be right! Then tear the page 

From out Columbia's story 
Of heroes' deeds in every page 

Who died to weave her glory; 
The song of Warren and of Hayne 

Would ne'er have been repeated, 
Nor anthem pealed Mount Vernon's name 

Had greed the right defeated. 

Turn back thy pages, Father Time, 

And read each nation's glory, 
And where you find a land's decline 

Write greed across the story. 
Did freemen blush when they proposed 

That bribe so oft repeated: 
"The mines and mills will all be closed, 

Less silver is defeated?" 

"My country, 'tis of thee," I sing, 

The patriot's song refraining; 
"Sweet land of liberty," — oh, cling, 

Ye sons to freedom waning. 
"Land where our father's died," — indeed, 

The hallowed soil consecrated 
With pilgrims' blood — has gold and greed 

The pilgrim's cause defeated? 

Six million warriors of the free 

Reforming, not retreated, 
Are lining up for God and thee — 

"The cause is not defeated." 



APPENDIX. 



THE SILVER CAUSE IN IOWA. 



The day that closed the proof reading of the last pages of 
" The Silver Side," and as then intended to be the jznis of the 
work, witnessed the convening in the city of Des Moines of three 
state conventions, representing three parties, Democratic, Silver 
Republican and Populist. The author was a delegate to one of 
those conventions, but during the day embraced the opportunity 
of visiting the other two. It is hardly necessary for him to say 
that it was not only a rich intellectual treat, but an occasion that 
inspired him with greater confidence than ever before in the sub- 
lime honesty and patriotic integrity of his fellow citizens. Ac- 
ceding to the earnest solicitations of Iowa friends, we add an 
appendix to " The Silver Side," giving a brief account of the 
proceedings, the prominent features of the platform and the 
names of the five candidates for state offices. True, this is to a 
degree local in its character, but anything that interests Iowa can- 
not fail to interest friends in all the states, especially this year in 
Ohio, Virginia and Massachusetts, where elections are to be held 
at the same time as in Iowa. 

In these conventions were associated men, who only one 
year ago were arrayed against each other in at least three differ- 
ent political parties, at times in the past almost bitterly antago- 
nistic; now, although not meeting in the same building, yet near 
enough to correspond with each other, and consult with reference 
to their mutual interests as American citizens. Readers of " The 
Silver Side" need not to ask what the cause of this laying aside 
of former differences and of this mutually sympathetic coming 
together. They understand full well that an enemy has invaded 
our country, the same insidious foe that destroyed the republics of 
the past, and although not aroused to a full consciousness of the 
danger until one year ago, now no man could look in upon these 
several assemblages without seeing and hearing the same deter- 
mined expression that has ever characterized the loyal citizens of 
this country in times of extreme danger. Political questions of 
minor importance were for the time laid aside that all might unite 
against the common foe. 

The first gathering attended by the writer was the Silver 
Republican. All was animation and earnestness. J. B. Romans 




FRED. E. WHITE, candidate for governor of Iowa, was born in 
Prussia in 1844; his father died when he was ten years of age. He came 
with his mother to America in 1857; of the four children he was the oldest. 
The family came direct to Keokuk county, where he has since resided. 
Fred commenced work by the month, and continued until the war. He 
then 'volunteered, but on account of being too young was rejected. In 1862 
he was accepted, became a member of the Thirteenth Iowa Infantry, and 
served nearly four years. After the war he bought 40 acres of land, to 
which he has since added 420 acres. On this now splendid farm, cultivated 
by his own hands, he has since resided. He never sought office, but in 
1890 consented to become a candidate for Congress, was elected and made 
a record of which his district and state are justly proud. Several months 
ago he was solicited to become a candidate for governor, but steadily 
refused until the evening preceding the assembling of the state convention; 
he then yielded to the wishes of friends, and on the second ballot was 
unanimously elected. That he will be elected there is little doubt. 



THE SILVER CAUSE IN IOWA. 365 

was temporarily presiding; F. O Hineston, secretary. We 
regret that Mr. Romans' eloquent speech, like that of the perma- 
nent chairman, must be omitted, and the same must be said of 
the presiding officers of the other two conventions. 

The most important business of this, as of the Democratic 
and Populist organizations was to appoint committees of confer- 
ence, to agree upon a platform and subsequently nominate can- 
didates for the several state offices to be voted on in November. 
This was accomplished without special difficulty in the Silver 
Republican and Democratic conventions. Slight dissatisfaction 
was manifested by the middle of the road Populists in their con- 
vention, but nothing that will seriously affect the general har 
mony that prevails. 

In the Populist convention General J. B. Weaver was the pre- 
siding officer; Hon. Fred E. White was chairman pro tern, of the 
Democratic hosts, the largest gathering for many years. The 
Tabernacle, seating capacity nearly three thousand, was filled 
with enthusiastic Silver Democrats, who had the privilege of 
hearing one of the best speeches ever delivered on such an occa- 
sion. Mr. White's eloquent speeches made in congress had often 
been awarded a high meed of praise in our presence, but we were 
wholly unprepared for the splendid extempore production to 
which we listened, eloquent, argumentative, logical and patri- 
otic, as of course it would be, coming from a veteran who entered 
the volunteer service when only seventeen years of age, serving 
in the Union Army nearly four years. We cannot forbear giv- 
ing two paragraphs; speaking of the hitherto indifference of the 
people to impending dangers, he said: 

The cause of true reform suffers immensely because a great many 
people rest secure in the belief that their freedom remains unimpaired so long 
as they are not actually sold upon the block. This monster delusion has in 
the past from time to time deferred, and is now deferring the regeneration of 
the political life of this nation. It is this wretched hallucination, stupefying 
the powers of comprehension among so many people, that gives the oppor- 
tunities and furnishes the license to the pirates in our midst to devour our sub- 
stance with impunity. Once let the people learn that they may be reduced to 
a condition of practical servitude while still permitted the use of the forms of 
ceremonials to which they were accustomed in a state of actual freedom, but 
which are now empty forms and shallow, meaningless ceremonials, devoid of 
power and harmless of purpose; let the working classes once thoroughly 
compiehend that the power to fix wages and determine prices is the omnipo- 
tent power in this material world — the power that can most effectually create 
the autocrat upon the one hand and the menial on the other, that can afflict 
society at the same time with the two-fold curse of multi-millionaire and 
pauper; once let these truths penetrate the popular understanding and the 



366 THE SILVER SIDE— Campaign Text-Book. 

carnival of the thieving and gambling fraternity would abruptly come to an 
inglorious end. 

The interesting question then is, is it impossible to arouse the masses to 
a real sense of the danger hanging over them before the danger culminates in 
a calamity and overwhelms them? There are indeed at the present time many 
indications of an awakening. Unless we set the people down as incurable 
idiots it will be impossible for us to believe that they will much longer con- 
tinue to submit to the almost wholesale confiscation of their earnings and the 
heartless spoliation of their political inheritance. The criminal operations of 
the multi-millionaire conspirators are growing so recklessly bold and frequent, 
the effects of their operations are so far reaching and disastrous, that public 
attention is being aroused as it was never before, and unless our people are 
exempt from the operations of the natural law that governs elsewhere and are 
amenable to another, the workings of which we do not understand, public in- 
dignation will follow, and the inevitable outcome will be a readjustment of 
conditions where the Jeffersonian doctrine of the political equality of man will 
be assigned its rightful place and the administration of justice be the moving, 
governing principle. 

The following are the nominees for state offices as unan- 
imously agreed upon by the several conventions. 

For Governor, Fred E. White, Silver Democrat; Lieutenant 
Governor, B. A. Plummer, Silver Republican; Judge of the Su- 
preme Court, L. G. Kinne, Silver Democrat; Superintendent of 
Public Instruction, G. F. Rhinehart, Silver Republican; and Rail- 
road Commissioner, S. B. Crane, Populist. 

The Platform. 

" The Democracy of Iowa in convention assembled send greet- 
ing to the nearly 7,000,000 patriots who participated and aided in 
the battle of the people in their struggle for their rights in the 
last campaign, by giving renewed expression of devotion to the 
principles of the Democracy of the nation as set forth in the plat- 
form adopted by the Democratic party at Chicago in 1896. We 
lay special emphasis upon that portion of the national platform 
of the Democratic party on the financial question, believing that 
the very existence of the farming, laboring and commercial inter- 
ests of this country depends upon a change of our financial 
policy, and we enter into the first campaign after the great battle 
of the people against the combined corporate and money power, 
in which that peerless statesman and patriot, W. J. Bryan, was 
our leader, with the reassertion ' that we demand the free and 
unlimited coinage of both gold and silver at the present legal 
ratio of 16 to I, without waiting for the aid or consent of any 
other nation.' 

"We declare that the methods resorted to by the leaders of 
the Republican party in the late national campaign have justly 



THE SILVER CAUSE IN IOWA. 367 

alarmed the entire country. Their flagrant acts of bribery, intim- 
idation, colonization and deception overawed, and were intended 
to overawe, the electorate, and thus prevented a free and an 
honest expression of public opinion. We affirm this to be a 
direct attack upon popular government and a declaration of war 
against free institutions. If submitted to without rebuke the 
presidential office will be permanently under the domination of 
money and of the corrupt influences which money controls. 

Syndicates Denounced. 

"The purpose of these high-handed and criminal methods is 
evident from the results following their success, the trusts, the 
combines, the syndicates, the corporations, all united to make the 
government an agency for the promotion of their special inter- 
ests and welfare. They contributed millions upon millions to 
Mark Hanna's campaign fund, and having triumphed by the cor- 
rupt use of these vast sums they are about to recoup themselves 
from the pockets of the people. The notorious, almost avowed, 
purpose of the tariff bill now under consideration in the senate is 
to repay the trusts and the mine, the mill, and the factory barons 
for their pecuniary aid to McKinley; the railroads are to be com- 
pensated by a pooling law; and it is on the program, as announced 
by Secretary Gage, to requite the banking corporations by retir- 
ing the greenbacks and Sherman treasury notes, and increasing 
the interest bearing debt $500,000,000 for their exclusive benefit. 
The prosperity which was promised was prosperity to these 
special interests, and not to the people at large. The people 
have not realized it, and while legislation is for the classes 
instead of the masses they never will. It is to further the 
ends of those who do not produce, but absorb, wealth, and legis- 
lation in whose behalf is rapidly segregating society into the few 
very rich and the very many poor, that Speaker Reed arbitrarily 
refuses to permit the national house of representatives to legis- 
late, and denies to the American people the representation in the 
government to which they are entitled by the fundamental law. 

False Promises. 

"We point to the fact that the claims of the Democratic party 
in the last campaign have proven true, and that the claims made 
by the Republican party have proven false, and not one of the 
pledges made by that party has been fulfilled. The citizen was 
urged to vote for McKinley and prosperity; confidence was to 
be restored; the mills were to open up; unemployed men would 
find work; the farmer would find a profitable market for his prod- 
ucts. All these and more were promised to take place as soon 
as it should be known that McKinley was elected. Months have 



368 THE SILVER SIDE— Campaign Text-Book. 

passed since that event, and instead of the fulfillment of these 
promises prosperity has not made its appearance, the mills and 
shops are closing down, the army of unemployed is growing 
larger and the farmers of Iowa since his election are marketing 
their products at a less price than ever before." 

The platform so far as relates to national issues is given that 
bimetallists in other states may know, to use a soldier's phrase, 
that Iowa friends of silver are touching elbows with them in the 
forward march. They make earnest appeal to Silver Democrats, 
Republicans and Populists of other states, specially of Ohio, 
Virginia and Massachusetts, the only states where elections for 
state officers are to be held as in Iowa next fall, to make a 
supreme effort to carry all; three of the four we can and must 
have. Be assured, comrades, that Iowa goes into the present 
campaign confident of victory. 

To do is to succeed — our fight 

Is waged in Heaven's approving sight — 

The smile of God is victory! 



History of Political Parties X X 
X and National Reminiscences, 

Containing: Elaborate Accounts of the Federal and Republican 
Parties of the Olden Time, the Organization and Historic Acts 
of the Whig, Republican and Democratic Parties, with Brief 
Allusion to other Political Bodies of Ephemeral Existence. 



PRESS COMMENTS. 



It will prove so interesting and valua- 
ble that Col. Fox will probably have the 
opportunity to write another volume to 
add to its treasures, if his health and life 
are spared. He has surprisec even those 
best acquainted with him by the extent 
ot his own personal knowledge of politi- 
cal history, which he has closely studied 
for more than sixty years, and has- had 
personal participation in for more than 
half the life of the world's greatest nation. 
— Iowa State Register. 



A Timely Work which Should be Read by 

All who are Interested in Our 

Country's Welfare. 

It is a noticeable peculiarity of America 
that when anything is really needed in 
the mechanical arts or literature, sciences 
or history, there is always some one equal 
to the emergency, who. by the aid of his 
inventive genius or intellectual attain- 
ments, supplies the needs of the people. 
For a long time we have been in the 
need of an exhaustive and comprehensive 
history of political parties, and that long 
felt want has just been supplied by Col. 
Dorus M. Fox. — Omaha (Neb.) News- 
Republic. 



An interesting contribution to the polit- 
ical history of the United States has just 
been published at Des Moines under the 
title of "History of Political Parties. Na- 
tional Reminiscences, etc." Col. Dorus 
M. Fox is the author and publisher. The 
scope of the work is accurately outlined 



in the title. Besides a full sketch of the 
great parties, their achievements and 
failures the book contains many inter- 
esting anecdotes of Lincoln and other 
central characters of American history 
and tributes to their worth and memory 
by eloquent pens and tongues. — St. Paul 
Pioneer-Press. St. Paul. Minn. 



The author is a good reader and a close 
student; he is thoroughly familiar with the 
history and affairs of the nation for sixty 
years, during which time he has seen a 
part of it all. So the book he has just 
published, the "History of Political 
Parties. National Reminiscences, etc." is 
the most successful book ever published 
in Des Moines. It deals with the political 
history of the country, briefly, from the 
organization of the government, and in 
detail and with thoroughness and relia- 
bility. — Times-Republican. Marshalltown. 
Iowa. 



The publication is timely, and a careful 
perusal of the book will serve to furbish 
up the political memories and conceptions 
of the older voters, while to young men 
it will prove a uade mecum of much value. 
Finely printed upon enameled paper and 
profusely illustrated with photogravure 
portraits of the presidents and many of 
the historical men of the nation from 
Washington down to the present day. 
this excellent compendium of political 
history presents in its 545 pages a most 
interesting series of national reminis- 
cences. — Burlington Hawkey e. 



SENT POSTAGE PAID ON RECEIPT OF $1.50. 
Address COL D. M. FOX, Des Moines. Iowa. 



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